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FkTheGoverment
Jan 11, 2021 8:51 AM

BTC retracement or perfect bounce? 

COINBASE:BTCUSD1D
Bitcoin / United States DollarCoinbase

Description

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Btc retraced to the daily 20 ema. Wait for comformation bounce with volume support for further upside.

Wait for 4hr close below trendline for further downside.

Targetpoint upside: 44,000
Targetpoint downside: 22,800 - 23,500

Press like if you appreciate comment when disagree.

Have a great week Ciaoo.

Comment

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Comment

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We had a wick below the trendline but no 4hr close so far. Wait for this to happen for further downside. So pay close attention to the 0.382 fib level and the bullish trendline.

For more upside we like to see volume support bounce with a 4hr close above the 0.236 level so we can take out the previous high @ 42.000.

In the last weeks bulltrend we touched the 4hr RSI 30.00 level 4 times which then reversed the market for more upside.

The retracement so far is approx 27%.

this is not financial advise.
Trend AnalysisTechnical Indicators
Comments
rakha.dee
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im keeping my eyes on this, thanks
FkTheGoverment
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@Rakha.dee, Thanks for your support.
OxEconomist
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Bull trap and again correction.
FkTheGoverment
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@kenshintani, Thanks for your comment. Is certainly posible.
nimakurd
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calmdown and becarefully btc pullback to 10 k.
GOD save btc
FkTheGoverment
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@nimakurd, That would be a great discount!
mw3303
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Thx. Could you pls update this post?
FkTheGoverment
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@mw3303, Thanks for your support, when the market will give a direction i probally gonna update the idea.
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