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Dexter_The_Trader
Jan 16, 2023 8:02 AM

BITCOIN: IN NEED OF CORRECTION.  

Bitcoin / U.S. dollarBitstamp

Description

BTC update:

BTC has broken above the falling wedge pattern in a 1-day timeframe. Currently, it is facing resistance at 21.5k and according to analysis, BTC must retest to continue a healthy rally. The RSI is at the oversold area, indicating a correction to be coming soon.

Remember! There’s no need to panic if we see a rejection on BTC anytime soon. I expect a rejection close to 18k and then a strong rally breaking the 21.5k resistance.

Thank you for reading. Trade safely.
Comments
NRGNRG
Nice analysis.
RLinda
Great chart, very useful for assessing the market situation, thanks for sharing)
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