We have seen a very strong upward momentum on Bitcoins price the last few weeks. It has done very well but is facing longterm resistance which is hard to break and people will short here. The RSI and MACD have been extremely bullish so reversal the upcomming days is expected. I expect bitcoin to go to 1265 USD, this would be a great entry point.
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Alternative path the correction might take in light blue. This will be the upper resistance 1530 USD and is very hard to break. The lower resistance line could turn in support because of this and 1250-1350 will be resting point.
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Better view of a possible price correction
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Order cancelled
New chart re-evalutation, broke upper resistance lines.Order cancelled
Trade closed: stop reached
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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.