Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Bitcoin (XBTUSD) recently closed below EMA10 and now also EMA50 has been broken as support... With this break, prices can easily move lower and hit $5660.
If $5660 breaks (red arrow), then prices can go even lower and hit $5250/$5300 short-term, depending on how this level is handled we can look for the next move, at that time we can share a new analysis if you are interested.
Conditions for change If momentum shifts and prices go up and close above EMA50 or $6040 on this timeframe, we can consider the retrace over and that prices will resume the uptrend (green arrow)... Thanks a lot for your support.
Namaste.
Comment
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We will share a new analysis once the weekly (W) candle closes (less than 4 hours from now).
This can be a bloody Monday... We will see...
Comment
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Conditions for change If momentum shifts and prices go up and close above EMA50 or $6040 on this timeframe, we can consider the retrace over and that prices will resume the uptrend (green arrow)... Thanks a lot for your support.
Made lots of profits from this range (day trader) +280 but I fear large swing coming and looking nasty. Take what I say with a grain of salt but I feel the ye olde fake pump to dump coming. . . Hmmmm... anyway gl all and thank you alanmasters, probably best free trader I know. Your weekly specialization is legendary in my books. Always like to see what’s trending and your a valuable source my friend.
*Tip of the hat*
Aru
AlanSantana
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@aruchard, Thanks a lot for the comment and support, truly apprecited.
No way . I think it will be 4000-4500$ !