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Tez8
May 12, 2021 3:44 PM

Update #3: BTC video ST Bearish  

BITSTAMP:BTCUSD240
Bitcoin / U.S. dollarBitstamp

Description

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SUMMARY: ST Bearish , we continue to consolidation and anticipate 1 week or a bit longer before up trend continues.


-- Technical --

The previous analyses are attached. Continuing to range, looks like we will retest support.

MACD 1D is showing up momentum is continuing to slow.

We are in a slight downtrend channel - Bull flag in the big picture - and expect a support test around the 50k ish level.


-- Fundamentals --

Looks solid for BTC and expect record breaking highs and people's disbelief when it happens.

BTC top 150k (providing no liquidity event occurs) looks on target .



$$$ Happy Bull Market Alts season is here $$$

Please HIT the --->>> "LIKE" and "FOLLOW" button. <<<----

*Not financial advice and is for educational purposes only. Always DYOR.

SO: What do you think, have I got it right? Let me know below.

Comment

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Pro tip: "When in doubt, zoom out."

Comment

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Bitcoin Fear and Greed Index is 31 — Fear

Comment

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This bull flag has played out well. I hope everyone has been about to take some profits.

Looks like we have fire sale of crypto assets on discounts.... for a short time only.
Trend AnalysisChart PatternsFundamental Analysis
Comments
thriftyRock79125
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Absolutely nailed this one Tez well done. I also believe 75k will be the top of it hasn’t been hot already. That’s still up for debate especially considering the g@Huge narrative change afoot (Elon). Great TA as usual.
Tez8
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Thanks!
Looks like we have a right translated bottom on this 8 weeks cycle.

There could still be a little more downside as the fear works it’s way through.

We are looking at a continuation of the bull run soon.
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