$XBTUSD - Bitcoin Technical Analysis - Things still look Good
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Let us talk about Bitcoin from Daily time-frame perspective. Bitcoin had a good run in the past few days and was rejected exactly around the 4 months high i.e. at 10550$ on 13th Feb'20 and since then has been moving downwards. This has pushed many people to call for lows however in my opinion, things are still and we should bounce off from the strong history daily support (represented by Blue Dotted Line) at 9864$ levels.
If above level does not hold then the next good support is at around 9000$ levels, however in my opinion we would not reach there.
Further, if we look at the 4hr Charts with (Not represented in the chart here), we would see that there is a hidden which is already completed and price action should support upward momentum.
OBV ( ) also looks strong even though we had a good red candle yesterday.
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