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Sive-Morten
Jul 28, 2022 8:10 AM

GDP will help? 

Bitcoin / United States DollarCoinbase

Description

Morning folks,

So, BTC keep showing upward pullback and recent dovish Fed decision has let it to start upward action from predefined level:



As we expect negative GDP numbers, in a moment it should weak the US Dollar, which in turn, should be supportive to BTC and could let it to reach next 25.5-26K resistance area. For position taking you could use most recent swing with invalidation point at 20.7K lows.

But this is only if you like data release games. Otherwise, just wait for the numbers.
Comments
GDuBFX
I have been bullish since around 18k and have been following a wyckoff accumulation pattern, which I think has now turned reversed in to a new trend.

See my chart below with my elliot wave predictions for the new trend marked up.

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