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BTC/USD Chart
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Bitcoin Price (BTC)
Institutions drive prices up so high, that it makes people like you reading this discount the possibility of a sharp drop SO impossible to accept that anyone even throwing it out there as a possibility is accosted and ridiculed. I recently made the same exact idea, I There's 2 CME gap which are located at 54K and After it, There will be a chance to pullback for BTC! By the way there are 2 located support and resistance lines at If Bitcoin can't clear the 57K resistance, another test of 50K or lower is likely to follow in the coming week.
The risk based on the time frame that we follow for our LONG only swing trade strategy is not worthwhile. If you looking at your MACD and wondering why yours has not crossed yet thats because not all MACDs are the same you can change the parameters on the input resulting in crosses at different times. I use this free MACD It's time to publish our regular section "2-year Trade Marathon. Weekly stats 6".
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Who is reading this section for the first time, we advise you to read its beginning: This week we had our debut, you can congratulate us! We closed the 6th week of our trade marathon in Hello TradingView Family, hope you all had an amazing weekend and ready for the upcoming trading week. The latest Bitcoin swings remind me of the previous channel in orange from 40k to 30k. We really didn't kick it off yet, but don't worry As Bitcoin kinda goes nowhere fast over the next week or 2, Altcoins will shoot up! SO Many projects coming out to end Q1!
Remember, Historically speaking, the best months of Bitcoin are in April and May. I don't see why this should be ANY different Bitcoin remains to be bullish above 50k. In the last bitcoin analysis, we identified the ABC bullish parallel correction that we're currently in. Price bounced off beautifully off and 50k region.
We should remain bullish until the major channel is broken.
If it breaks, we should then think about how we can sell for the short term. Goodluck and trade safe! The fall was Morning folks, So, the bounce that we've discussed from K area has happened, and now we have the next problem - up or down? On daily chart we have bearish hints, such as wedge consolidation and MACD divergence, but price action is too slow and gradual to treat it as reversal already. It means that BTC could make another swing up inside the daily wedge.
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