Bitcoin — charts, forecasts and trading ideas from trader Bitcoin on the best financial platform TradingView.From a technical point of view, our setup is still valid (see chart below), but. if we look at the development of our bullish pattern (ABCD), we see that shape is too long over time, it means it could be in place a distribution phase of pair.I do not read the news and do not even understand how the blockchains work.To complete this pattern, there is one more bearish channel will perform after hit 394 with target at 260.98.
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We must keep in the back of our mind, that there are always longer term cycles happening and we need to insure we know.The main reason for this is that bitcoin has completed three waves up and was ready for a potential correction but the china news about banning exchanges let it plunge at rapid speed.
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ETHUSD Update: Shallow higher low established at the 238 level while price is attempting to push the minor resistance at the 259 to 262 area.After bitcoin topped off at 5000 it made a quick deep dive to 3000 (even going below slightly) this all happened in approximately 13 days.
The market bounced from the support zone formed by 10.00 and 8.00 levels. RSI confirmed price reversal and did it in the oversold zone.If this consideration is right, we may only find it around target area or a daily closure below the support area. The.
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My most important weapon is the knowledge of how technical analysis work.After a big drop since the last week or so, Litcoin just hit a key resistance which indicates us that the trend has changed and went from bearish to bullish.I take a look at who is buying BitCoin and why that says more about where.By clicking the Continue button, you agree to the terms and conditions.Markets on a way up or down ETFs and commodities FX, Indices, Equities.
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