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The rise in price yesterday has left us with a down sloping consolidation leading to an important level. The price has not gone below the previous high of $10,120 and is being held up at the moment by the support of the rising purple channel. Price is now back testing the descending channel as well from the 11k mark. Higher lows on the MACD suggest the last point of support is in, with the reversal underway. The breakup target would be at the top of this rising purple channel. A breakdown however will bring price back to the $9,750 range.
Remember that even though we have the signals for a continued move up, it still might not happen!
Do your own research and always make an informed and well educated decision before entering in the markets!
Thank you all for taking the time to check out my analysis!
Feel free to contact me in regards to anything you would like to take a look at!
Leave a like and comment!
Follow me if you enjoy these updates!
The rise in price yesterday has left us with a down sloping consolidation leading to an important level. The price has not gone below the previous high of $10,120 and is being held up at the moment by the support of the rising purple channel. Price is now back testing the descending channel as well from the 11k mark. Higher lows on the MACD suggest the last point of support is in, with the reversal underway. The breakup target would be at the top of this rising purple channel. A breakdown however will bring price back to the $9,750 range.
Remember that even though we have the signals for a continued move up, it still might not happen!
Do your own research and always make an informed and well educated decision before entering in the markets!
Thank you all for taking the time to check out my analysis!
Feel free to contact me in regards to anything you would like to take a look at!
Note
no volume spike?!
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doji over confluence zone! 4H chart
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Price decided to have further consolidation!
Note
Note
BTC must bounce from this level now!Note
Note
Having nice support at the moment!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.