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InkyGrip
Mar 22, 2022 7:41 AM

BTCUSDT false breakout? 

BINANCE:BTCUSDT240
Bitcoin / TetherUSBinance

Description

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As I told you on the previous analysis the price wanted to retest the supply zone.

At the moment the price is creating a long wick candle on that level, and it could be a false breakout of 43k.

As I told you before, the price needs to create a clear higher high with volume and momentum.

So if the price is going to create a clear breakout of 43k, and retest the resistance as new support, we could see another bullish impulse until 45k.

With the current candle, it seems like a stop-loss hunter.
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Keep in mind.

🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.

Comment

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the price needs to create a new breakout from the resistance

Comment

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The price is testing the resistance and the support.
Usually, consolidation below the resistance is a good sign for a bullish breakout!

Let's see!

Comment

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The price needs to create a new higher high above the 43k with confirmations.
Another false breakout could create a new bearish impulse
Harmonic PatternsTrend AnalysisChart Patternsfalsebreakoutfalsebreak
Comments
MTrader65
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I see Golden Signal in BTC. 4H in Ichimoko Cloud.
InkyGrip
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@MahdiHss, feel free to share your chart with us
ProjectSyndicate
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solid overview and great charting today
InkyGrip
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@ProjectSyndicate, cool bro
AlkalineFX
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Thanks for the share!
InkyGrip
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@AlkalineFX, you are welcome
BlackBirdTrading
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I am still bearish :) I am seeing bearish flag.

InkyGrip
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@BlackBirdTrading, Thanks for sharing your idea. The price needs to create a new higher high. With the new one the price could get off from your channel! Let's see!
thanks mate
Arash_Kamangir2020
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good job
InkyGrip
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@mohammad168, thanks mate 🦐🔥
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