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BTC towards 13500 ??

By maheswar81
Updated
BTCUSD , is trending down steadily.

I have drawn a chart where BTC can take support
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14300 now, 800 more to reach the target.
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As our chart is based on Line and price close, support was nicely held last time.

I observe 2 things :

1) Price is testing the support again and again to check the strength.
2) As the fall was very steep, it will breakout soon. A breakout will change the sentiment towards positive.

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As our chart is based on Line and price close, we dnot consider the price extension in that particular timeframe.

Price closed well above the support and bounced back.
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Well, I dnot know how to change the heading.

BTC heading to 20000? should be the title.

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My view on the BTC/USD

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Look at the RSI, it is at the Oversold condition which can take the price to the upside.
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Update :

A decent bounce from the demand zone

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We broke the roof top pattern and formed a downtrend channel. Price is following into the channel. But there is a strong support at the demand zone. As long as support holds the demand zone, we can buy there and sell on top.

1) Price on trendline
2) Forming a symmetric triangle pattern which can breakout soon.
3) Price is above the support.

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BTCBTCUSDBTCUSDTChart PatternsTechnical IndicatorsTrend Analysis

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