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peterbhc
Sep 27, 2022 12:45 PM

BTC Approaching Macro Trendline Short

Bitcoin / DollarBitfinex

Description

BTC had 6.4M in SHORT liquidations to squeeze the price action. Will this be a sustained breakout?

To start to become bullish, a break and confirmation above macro trend will need to occur.

This could be a false breakout in the short term.

Monitor the 1D MA50 as resistance also.

Then there is heavy cloud cover to overcome and there isn't even a green twist yet.

Good Luck.

Comment



Monitoring for a Distribution top in this range in lower timeframes

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At Macro Trend again. 15min RSI is high, so for sure a cool down if not a large rejection.
Comments
junayed
DemoDiaryFX_Trading
@junayed, agree with you based on this
UnknownUnicorn15614419
nice work man
Solldy
A very good analysis of the asset. Glad I saw your idea)
Tradersweekly
Thanks for the contribution.
NeutronMan
Great post! I think BTC will get rejected from the macro descending trend before price heads towards 12k.
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