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BigLava
Nov 24, 2020 7:03 PM

BTC/USD TA (ATH) 

Description

We can see here the RSI has been over bought for a few weeks now. If we take a look at the midline channel we can see we are currently in the upper half of the channel. We can see bounce of midline support at current candle.

Looking at the RSI we can see a trend of rejection from going out of the margin tends to make a small retrace back before going up. In theory if this pattern plays out we can except to see mid 18,600 - 18,800 area.

If BTC can make a closure above 19,900-20,000. We can expect to see new All time highs!


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Comments
VincePrince
Good channel, I see it similar.
XForceGlobal
Interesting, but it seems like the connective points are a bit odd. Tip: I wouldn't connect a closed body with a wick. I would first make sure to find to connected closed body candles, then connect the top/bottom trend line with at least the same closed body. Vice versa - you can do it for two connected wicks.
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