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ImmaculateTony
Jan 21, 2024 9:48 PM

Navigating Short-Term Waves: A Bitcoin Analysis  Short

Bitcoin / United States DollarCoinbase

Description

Checking out BINANCE:BTCUSDT, we're seeing some interesting moves. Resistance seems firm around 43610, while support is holding steady at 40175. What's catching my eye on the daily chart is the EMA crossover – always a key signal.

This crossover suggests we might be in for a bit of a dip or a consolidation phase in the week ahead. Now, me, I'm not one to jump into Bitcoin during a downtrend. Gotta play it smart, right?

But, and it's a big but, let's not lose sight of the bigger picture. The major trend for Bitcoin is riding high on the bullish wave. So, while we navigate the short-term ripples, let's keep that overarching uptrend in mind and make decisions that sync up with the larger market movements.
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