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Bitcoin
Short

Selling opportunity in Bitcoin?

By andre_007
Updated
I don't know if the price will go up or down. But I think buying now in areas of multiple resistances is a bit risky.

Any divergence in either the MFI or the RSI indicating buying exhaustion, I believe it is a good time to sell. As happened on July 28th.

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Trade active
Stables coins dominance signaling a bear trap.

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MicroStrategy in resistance zone.
Many consider this stock a proxy for Bitcoin.
The correlation on the weekly chart is at a point where it tends to increase (periods from July to September).
In addition, the price is at the top of a long rising channel, threatening to break above and then turn back down in a symmetrical triangle on the daily chart.

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USDT, USDC and DAI dominance index (together).

We have a possible false breakout of the bearish trendline in dollar dominance.

If this falsehood comes true, USD dominance falls, and so Bitcoin rises.

On the other hand, if there is indeed a breakout above and dominance rises, BTC falls further.

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Trade closed: target reached
Wait for the next entry.
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Trade active
Next target: 59k
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The price needs to respect wave 1 to continue rising.
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Bullish divergence
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VIX: people are scared...
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Trade closed: stop reached
Partial target hit, operation cancelled.
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Will the party end early or will we still have an extension if the same bullish leg of wave 3 repeats?
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Trade active
Bear divergence on Money Flow Index, also with rejected resistance in RSI.
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Targets:
$ 62,875
$ 61,074
$ 57,229
$ 53,376
$ 48,725

Bear divergence on Money Flow Index, also with rejected resistance in RSI.
Can be only a pullback to continue rising? I don't know.
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Pullback scenario:

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⏳ Waiting...

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Order cancelled
The scenario in this chart is out of date.
Bitcoin (Cryptocurrency)BTCUSDBTCUSDTDivergencedivergencesMFIOscillatorsRelative Strength Index (RSI)shorttradeSupport and ResistanceTrend Lines
andre_007
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