By checking the bitcoin chart, we can see that the price, after Collecting the BUY-Side liquidity above of the $47,950 resistance with growth up to $49,000, followed by a fall and corrected to the range of $41,500! Now the price has reached a demand range, and if the price stabilizes above $40,400 and does not penetrate below this level, we can expect Bitcoin to grow again to $45,500 as the first target! After that, this analysis will be updated!
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By checking the bitcoin chart, we see that according to the latest analysis, as expected, bitcoin was supported in the range of $41,700 and was able to grow up to $43,600! Bitcoin is currently trading in the range of $42,400 and if it cannot maintain the current support, we will probably see it fall further! Note that this analysis is complementary to the previous analysis!
Absolutely, the key seems to be whether BTC can hold steady above $40,400. If it does, aiming for $45,500 as the next target looks promising
ArmanShabanTrading
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Agree with LONG ?
emismailkhan
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It think will be trying to increase volume and tightened support at 42700. And may retest in between 42500$-42900$. If there is enough volume and RSI it could reach 46600$. Or if 42700$ become resistance which could fall to 40-41k , if failed and couldn't break 42700 resistance than 37000$-37500$.
CoingetterD
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@emismailkhan what would candle would base these support and resistance breaks 4 hour ?daily?
Hellstorm2
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I completely agree with your idea
MyCryptoParadise_Nathan
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Your understanding of Bitcoin's movements is impressive. Keep it up!