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We have to see if we can ascend to the 48214.0-50752.0 range.
We need to see if we can get support and move sideways in the 44888.0-47265.5...
Reaching target range for this correction based on fib levels (38-42k)
almost 10% since the UCTS sell signal & on a monthly close..
Will try both to lock some profits from the short as to accumulate sats in this range
If fails to hodl/bounce (unlikely 🙄), then ~35k
#BTC on the hourly chart is currently in a bullish falling wedge with RSI overbought and hovering at around 30.
Decision time for #BTC- Short-term price targets are $48k-$51k on the bull side, $36k-$38k on the bear side.
Possible ATH break this week if Stimulus pumps the market.
BTC is failing at all back test levels and is not looking healthy. This keeps moving further away from a "bull run correction" and looking more like a pivot into a bear market. We're still a ways away from that point, but break 40K while closing HTF bearish and the bears will have a pretty good case. Just take a look at the last correction. There was a fight and...
- Bullish divergence on the 4 hour time frame
- Descending wedge on the 1 hour and 4 hour time frame
- Whales buying AND Coinbase premium is back
- NUPL and other on chain metrics show possible buy signal
- Miners have stopped selling
NOT FINANCIAL ADVICE GAMBLE YOU'RE MONEY AWAY AT YOUR OWN RISK
My first time posting here. Judging from price action on the 1H BTC is going down, entry and SL are given. Remember to take partial profit traders! Give this idea a like if you see it helpful!
TP1 at 41000
TP2 at 39500
TP3 at 38500
Trade wise and good luck, Make sure to use risk management.
Bulls need some cheering up so here's some hopium. RSI is looking okay and bulls have the 200MA on their side. Wick down to 40K would cause a buy rush to break trend resistance. Sizeable bounce would be expected, but if weekly and monthly candles close as bearish as they are now, any sort of bounce should be taken as a deadcat only. I would not expect it to reach...
Good Morning Traders!
If Bitcoin correction has you worried, let's take a look at the analysis and trend. In this graph, I have also analyzed the previous 2 bull runs. So far this bull run has mostly run the same course of history and history does repeat itself! If you scroll back on the chart, you will see 2013 and 2017 analyzed similarly. The main difference...