BTCUSD accelerating section. Bitcoin has reached a technically critical stage. The big issue is an increase in acceleration or the beginning of a correction. The longer-term technical picture shows that the ATR axis of price movement in this range makes an angle nearly twice that of the horizontal axis. In short, bitcoin can rise at twice the rate at this stage. But it also means the size of the daily ATR will also double, so the rise will accelerate.
@meszaros more of the acceleration , more brutal the correction (if any occure ever) ?
meszaros
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@mike1244321, Yes. Anything can happen. These analyzes do not reflect foresight either, but indicate price movements that are more likely to occur. Higher probability is an important term. After all, there is the lower probability, which means the collapse. I don't see the reason for the bigger correction yet. I’m sure those who have followed this analysis so far and traded based on it should already be in the profit range. In such cases, the MM must aim to protect profits. There can be no loss from here.
mikeUkTrading
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@meszaros I understand. However I closed position in XLM ( XRP lawsuit news) and search for moment to open BTC one. It is has been extremely bullish what doesn't encourage to jump on it in moment of speaking. 20k resistance didn't trigger healthy pull back and rather accelerated grow. Newly growing asset class, fomo, short squeeze, hype - all this does seems to working successfully against bears.
meszaros
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@mike1244321, I understand. I do not consider a 1-2 day correction to be ruled out. But I still hold the long position.
We hold the bitcoin long position.