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I will begin BTCUSD Bybit Chart Analysis for December 27th
This is 30m candle chart for yesterday.
I’ve deleted unnecessary parts.
After the price went up along with route A, I’ve pointed out the orange...
Currently we are at a great entry level. Risk Reward excellent. Lack of bullish momentum. Expecting drop to the 1.4 fib level. BTC price movement in either direction will help in moving the price of Ethereum down to lower levels.
Keep an eye on ETH. Just got huge volume impact, so I expect it to grow soon. Since 152 already tested, next targets are 155 - 157 - 159. Buy zone 149-150 with up to 10x leverage. Stop loss below 147.9
Trade at your own risk.
A few more things which I found on the chart, while comparing to the bottom of 3100-4200.
Right now looks like we got similar structure with key level of resistance at 7800-7600. So keep your eye on the breakout from it.
Similar to 2018-2019 bottom we have a concentration of Bearish Candlesticks at circle area.
I will keep adding to long position in next...
What we can see at this market structure? Price is near 7800 resistance zone. Which actually very important zone for next move.
Slow accumulation of longs spotted at range of 7600 and 7450. We've seen similar structures at the begining of the year in 4200 resistance zone.
So track breakout, and follow the established...
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After break down raising wedge, we got a bounce with the wick at OTE (0.705 Fib)
BTCUSD Long Cross at ByBit - Risk 2%
Entry around $7560
Target $7752 - $7820 - $7950
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BTCUSD closed under the 200 EMA on the 3-day chart. Historically, this had led to a prolonged downtrend every single time:
Will this time be different? Probably not.
Risk/reward is easily manageable in this area:
I would consider this idea invalidated once BTCUSD wicks above the previous 3-day candle. For that to...
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DISCLAIMER:!!!This is not to be considered financial advice is my personal opinion, always do your own research before entering or exiting trades as i will not be held liable for any of your trades!!!
377 Daily EMA acting as support for BTC
Bull pennant about to break
November to December - Price action plays withing the pennant
Late December to January - break out of the pennant, temporarily consolidate to support
January - slowly creeps upward to resistance, forms a bull pattern, probably a flag
Late January - Breaks out of flag and test $16,000 to ATH...