BTC / USDT
Bitcoin rebounced from the second support in my last Analysis
Right now the good signs are :
1- price back above trendline again
2- price is consolidating above MA 20 daily
These Signals can provide support for Bullish movement
The most important level for bulls that should hold above is 53.5k zone and i want to see daily close above
At points 1 we see that a nice pull back will always attempt to test the top again. Now we see a great dip, it's really a buying opportunity for me because bitcoin long term is bullish. So every dip is a buying spree for the wise. Come to think of it, are we not getting a better price now. Don't miss this opportunity. .Comment below what you think of the chart and...
After a retracement as expected, the price wants to retest 0.618 Fibonacci level. IF the price will have a breakout upward, we can look for the long position, otherwise, we could see the price around 40k
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
Past two days were tensed for cryptocurrency market players:
Bulls having losses or keep funds locked in trades
Bears had several liquidations due to sudden bounces
Who favors from such price action?
Literally both sides!
Bulls could close long positions at Widening falling wedge near with $54 815 level and accumulate strong assets with a 30% discount...
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You should check the movement before and after the time indicated on the chart after sideways in the 48199.13-50736.52 section.
4H hollow candles.
Bar pattern repetition shows the movement for the next days, until the middle of March.
If the price stays above 40K they might see BTC to 70K, if drops below 40K, then 10-20K is a possible scenario.
Bitcoin Price (BTC) = $51,480.00 = 31.28 ETH
Market Cap: $1,554,890,348,439
24h Vol: $147,192,294,926
BTC Dominance: 61.7%
this is the price channel of BTCUSDT , what is your idea ?(comment)
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Bitcoin going up a bit, might continue or not. It made a new high so we might expect a move higher. Possibilities are endless
But I expect the price to bottom with an ABC and all we've really seen yet is 1 leg down, so I think the bottom will be lower, perhaps around 42k.
The idea is to get something like this with a risk...
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To be clear, this is not a call for a dump. Hope for the best, plan for the worst (buy the dip).
> strong bearish engulfing pattern
> price moved into extremes > 3 std. deviations
> possibility of mean reversion
Case to buy the dip at the 33k level
> 4 levels of confluence
1. Demand Zone
2. 50% fib retracement level
3. Channel mean