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AlanSantana
Mar 1, 2022 12:47 PM

Bitcoin Straight Up But Why? $47K Followed by $55K 

BITSTAMP:BTCUSD240
Bitcoin / U.S. dollarBitstamp

Description

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At this spot it generally hard to figure if a retrace is coming after hitting resistance for BTCUSD or if it will continue straight up...

I say straight up.

Feel free to hit LIKE now and let's get started.

Other than the obvious and strong bullish bias that has developed on the Bitcoin chart, we also have a new tool.
(Thanks to @CryptoSoaP who mentioned this chart in the comments section...)

Tether Dominance (USDT.D) has an inverse relation to Bitcoin (BTCUSD).

The USDT.D chart is looking pretty crapy and the signals are clear, it is aiming lower...


As this index aims lower, Bitcoins aims higher.
(My classic bullish signals are also showing on the BTCUSD chart.)

We are going for $47,200 followed by $55,100.

Leave us a comment with your opinion on this one.

Thanks for all the support lately, it is truly appreciated.

Namaste.

P.S. The "Stock Market" (SPX, NDX, DJI) is detaching from Bitcoin (BTC, Crypto) as anticipated...
Trend AnalysisTechnical IndicatorsBeyond Technical AnalysisBitcoin (Cryptocurrency)BTCBTCUSDtetherusdtusdtdtetherdominancealtcoinscrypto
Comments
TradeClass
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Do you have any high-altitude nosebleed medication to share? :) (Looking forward to straight up!)
suvny21
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@TradeClass, ;)
Mikanoshi
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Beware of a dead cat bounce to 55k, fractal from 2018 bear market fits price action perfectly for the last 6 months:
AlanSantana
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@Mikanoshi, We are aware. Thanks a lot for the reminder.
TradeClass
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@Mikanoshi, that's NOT the definition of a dead cat bounce. The Russian oligarch situation has changed everything.
Mikanoshi
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@TradeClass, bounce with a lower high is literally a relief rally, what are you talking about?
AlanSantana
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@TradeClass, The "Russian oligarch situation" doesn't change anything.

We have to wait for the weekly candle close to get a better picture.

Just as you can get good news one day, the next day you can get bad ones.

The market will make the news to support whatever move has to come.

It is too early to say that we are going straight up... If we are talking about TA of course.

Namaste.
AlanSantana
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@TradeClass, A candle close above EMA10 is needed for confirmation, just to start:
tommyd85
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@Mikanoshi, lol none of the fractals from last cycle have played out this cycle. nice try though big guy
Mikanoshi
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@tommyd85, I know, let's hope this one doesn't too, "smart guy".
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