If Bitcoin’ breaks above EMA200 and top of the channel (purple line), it can move up and challenge $6600 followed by $6800.
If Bitcoin’ breaks below EMA50 and the bottom of the channel we go and test next support at $6200.
Bitcoin’ can continue consolidating sideways as well.
This is a short term analysis.
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Your support is appreciated.
Namaste.
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Altcoins market is booming more and more, see gains in the past few hours for certain coins:
KOREBTC: 177%+
INCNTBTC: 260%+
UKGBTC: 140%+
CLOAKBTC: 30%+ [/LIST]
More info:
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Close up of the sideways action. Narrow trading range:
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This chart makes it very easy to read Bitcoin, pure sideways.
Nothing to add. It needs lots of sideways so the alts can keep on booming. Once the alts have grown some, Bitcoin can do a short burst up for the alts correction to come and then resume.
It will be a long ride, and it will be slower than what many people think... Until it is no longer and it starts to move up strong. You know these markets, they will surprise at every single turn.
Namaste.
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BTCUSD breaks channel:
"If Bitcoin’ breaks below EMA50 and the bottom of the channel we go and test next support at $6200. "
We test our next support.
For more updates, visit my latest Bitcoin trade idea (thanks for the support):
Namaste.
Trade closed: target reached
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BTCUSD’ Analysis
- If Bitcoin’ breaks above EMA200 and top of the channel (purple line), it can move up and challenge $6600 followed by $6800. - If Bitcoin’ breaks below EMA50 and the bottom of the channel we go and test next support at $6200. - Bitcoin’ can continue consolidating sideways as well.
We broke down and went as low as $6211. We moved back into the channel and broke up and went as high as $6540. We will hit $6600 and $6800 next.