Short

BTCUSD: Potential for $43,500 to $40,100 Within the Next 8-Days.

Updated

Hi Everyone! Looks like continued downward pressure a while that could push us down to within proximity of the Yellow B-Band Basis in the 4-Day Time Frame. I would be surprised if we fall within proximity of the Yellow B-Band Basis during the current 4-Day Candle. The "odds" are likely higher to fall within proximity of the Yellow B-Band Basis in the 4-Day time frame during the NEXT 4-Day Candle. At which point, the Yellow B-Band Basis will be almost dead even with the 0.618 FIB Retrace Level of approximately $40,300. I'll post a 4-Day chart shortly with the FIB Retrace Levels.

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4-Day Time Frame with FIB Retrace Levels:

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Daily Time Frame:

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Downward pressure may continue until mid March, 2021.

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REMINDER: This is a NEAR to MID TERM ANALYSIS. This is NOT a Short Term or Scalping analysis.

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BTCUSD: Be Cautious Opening a Margin Long From Here. Here's WHY

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Be mindful of what could be brewing up in the 3-Day time frame in the near future.

WyckoffMode

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