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RandomOracle
May 18, 2021 1:58 AM

Possible Breakout & Re-test For BTC Daily Long

BINANCE:BTCUSDT1D
Bitcoin / TetherUSBinance

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BINANCE:BTCUSDT


Just a thought of mine while everyone is busy panicking. This could be a textbook breakout & re-test.

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Last 25% added at varying points from 30k to now

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3-day chart shows this re-test much clearer, here is an updated chart

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Updated with more recent PA, looks like we've re-tested the lower 30k region to confirm support. Will be watching for a lower low below the previous breakout range before I consider changing my bullish stance

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This chart idea is still intact, PA overshot my initial targets however, Here is a new idea posted on the 3-day TF

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Another Idea for BTC has been posted:

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New Idea:

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Scary near-perfect rejection from that 0.382



^closer view


^Same fib but low time-frame

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Chart PatternsTechnical IndicatorsTrend Analysis
Comments
FatmanRichard
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Excellent analysis like always
RandomOracle
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@FatmanRichard, Cheers, looks like it overshot my original estimate by a bit but looks like a recovery is on the way
ta101970
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I was seeing the same thing. I just didn't want to rain on any ones dooms day parade
RandomOracle
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@ta101970, Always good to share ideas
xBTala
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for those who understand it, gona be something to regret by not adding on :)
RandomOracle
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@xBTala, yep, 100%
BillAnt
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Sounds good in theory... we shall see in the real world.
RandomOracle
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@BillAnt, Just an idea 😉
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