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Juliia
May 4, 2023 4:52 PM

BTC. What's next? Tech analytics 05/04 Long

Bitcoin / TetherUSBinance

Description

Locally, we are still in an uplink, having met resistance in the 30k-32k zone.


We also see a divergence in MACD on the weekly TF. The price is below the level and there is a good option to work out the divergence by testing the support level around 25k. Also, a long stay in the positive zone according to the MACD histogram can also be a short signal, but I would not rush to open shorts yet, this could be a trap.


We also have discrepancies on the chart, it can be interpreted as a triangle with a test of the 32k zone


Or as a H&S with a 24k-25k zone test


Since we are confidently holding the zone of previous accumulation, there is a big chance to remove short positions with a test of 37k-38k (the next resistance zone) and consolidate above 32k


To do this, we need to keep the range of $27-30k and try to land as many short positions as possible in order to fly to the 37k area and not give buyers a chance to change their minds


While we are sitting sideways, it is important not to twitch, hodl and everything will be fine) I am for the continuation of growth, perhaps through a correction to FWB:25K, if we cannot keep FWB:27K
Comments
zAngus
Well constructed post. Thanks for sharing this idea with the community.
bestfarbit74
perfect analysis
Juliia
@bestfarbit74, Thank you
sirocoin
very nice charting 👍
Juliia
@sirocoin, Thank you)
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