When talking about Bitcoin movement, its very important to state that we needed to determinate in which direction market is moving in order to make decision of potential investing or rebuying at the dips. Breaching 9,9 level was considered breaking of an upper trendline. When talking about retracement, if Bitcoin breached 8400-8800 level with tendency toward 7850 it would be considered as downtrend state. Now, Bitcoin looks pretty solid.
BTC started bull run from 8800 ending up at 11.700 in first cycle, but price dragged to 11,700, without healthy consolidation, therefore we needed to thread it carefull, beucase of sudden dips which occured two times before 11.700.
After consolidation, healthy fractal retracment, Bitcoin while retracing made tripple bottom (bullish sign) and we had technical rebounce from 9.400 value toward 11.7.
During that sharp uptrend, Btc pierced easily 10.1 resistance and continued with healthy price consolidations. After consolidation, Bitcoin breached 10,5 level and started rebouncing between 10.500 and 10800 levels. Then, tried to breach 10800 level, reached price 10850 (false positive brakeout) and returned to channel (10.500-10800). In second attempt, it breached 11,1 and instantly retraced to 10.500-10800 level. Bitcoin has strenght for further upward moment, as trying to breach 11,1 and stay above 11.000 level which will enable further uptrend to 11,500-11.700 level. (maybe even 12).
When talking about support levels and smart money, 10500 level was opressed heavily few times in a row and so far handled very good with a pressure successfuly regaining value even compensating last dip which pierced 10500 level, ending at 10350, but price was instantly recovered and Bitcoin movement is still above 10500 level, which is certanly one more sign of healthy support on 10,500, beucase by scenario, we should have strong rebounce from 10500 in order to pierce 11.000 level and possibly stay they preparing for next uptrend heading toward 11.700.
One more thing. I'm not absolutely either bearish or bullish. We needed clear confirmation in this very unclear enviroment in order to make decision. That's why we joined after apparent technical rebounce. We are trying to adapt on market, using stop/loss as a precaution.
This is not financial advice, therefore it can not be used like that.
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BTC address 1EeTCYPx7SG42jjttTgV7MESvHZPoqixz9 ETH address 0x746d3cdb0b30c0d78b26ddc7d9b7d6581be7d5de LTC adress LMCUJxZhPCKwyCEN65ugfAsqonXFgKrXSF
@EmVi, it is, but, we had technical rebounce which will most probably go up to 11,7, then we should precautionaly cashout and wait for retracment.
TAEHSAEN
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Dear @milanjelic I trust what you have to say and I value your opinion a lot. You have been calling this downturn for a long time while all the "top authors" sold the readers snake oil with fake bullish signals. I'm glad I listened to you because you looked at the big picture and that saved my investment.
Please do a new technical analysis on bitcoin and provide us with probable target points of entry. Please man I would really appreciate that.
marcsampaio
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Milanjelic , please update btc moves ! I follow your work since december ! Keep doing your job ! Thanks
Daniel0903
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Milan, please update
New2crypto76
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Thank you @milanjelic . I really appreciate your opinions and analysis.
How far do you think btc will retract?
eierbear
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dear MILANJELIC
i cannot receive any new recommendation for approx one week now
please can you store in a new chart or what can i do to refresh the sign of your last inputs