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AlanSantana
Mar 2, 2022 3:01 PM

Bitcoin Moves Above EMA100 | Straight Up It Is (New Target!) Long

BITSTAMP:BTCUSD1D
Bitcoin / U.S. dollarBitstamp

Description

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We have three rejections at EMA100 since late December.

The last two happened in February.

Yesterday Bitcoin managed to break and close above this level and today we see it trading above it.

EMA100 stands at $44,210.

Staying above EMA100 can signal 'STRAIGHT UP'! (Green arrow)

Our next target remains around $47,200 followed by $50,000.

Conditions for change
Closing below EMA100 daily invalidates this analysis with immediate support at EMA10 ($41,400)

One final detail.
I did some calculations yesterday based on the USDT.D inverse relation with BTCUSD and got a target of around $58,300 for this move.

This would put USDT.D around 3.36% more or less.

This is done for entertainment only of course.
We use the fibs, the patterns, the candles, the EMAs to trade.

Namaste.

Comment

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Comment

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There can be a small retrace to try and challenge resistance again around ~45K.

We are good above $40,000.

Comment

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Read the update here:
Trend AnalysisTechnical IndicatorsBeyond Technical AnalysisBitcoin (Cryptocurrency)BTCBTCUSDaltcoinscryptoCryptocurrency
Comments
fortitude23
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Fake out.
Let's not forget that we are still in a downtrend. And a triple top of a dead cat bounce has been printed just now, which can bring the continuation of the bearish trend.
AlanSantana
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@fortitude23, No fake out, volatility.

It has been growing steadily.
fortitude23
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@AlanSantana, Dead cat bounce, nothing more. But I hope you are right and we see a reversal.
AlanSantana
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@fortitude23, I am not there yet at reversal.

We are going up short-term but on the longer-term for me it is still a 'wait-and-see'.

Thanks for your comments.
fortitude23
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@AlanSantana, my pleasure, I appreciate your work!
OG_cRoW
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@fortitude23, triple top is bullish
jamjar61
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@OG_cRoW Eeh?
AlanSantana
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@SDQ_Crypto, Nice analysis. Thanks for sharing. :)
SDQ_Crypto
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@AlanSantana, Your welcome :)
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