BTCUSDT

By mbc47

Updated

Short term

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If we don't get back up in the triangle area things can get ugly -- test of 5K incoming soon.

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Feels like the bulls are no longer in control friends...
A limited move up is only possible as short squeeze I think..

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A brave soul would buy @ 5222 which is 100MA on 4H
That could be profitable, but risky as the momentum is turning...

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The bears will be relentless once we see all red on TV for the day..
We should not short but wait this out. We could see huge drops here

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As predicted - bounce off 5222. Will 100 MA act as support. Nope :(
5K will be the next big test

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BTW: I was hoping we hold on 100MA at least for 4-5h. IF we thru it soon 5K will be lost today

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100MA on 4H. Once this breaks we go down to 5K in no time

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This is what we could see going down..
Will reach 3? Not sure, but I do believe we will kiss 2

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So, my advice is: patience. remove emotion and wait for better prices.
Ignore the news - it is just a distraction.

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So, one maybe wondering how probably it is that 100MA holds on the 4H?
And can we make money there?

YES. We can sit here for hours..and form a small channel between 50 and 100MAs
But it is much more probably that we test 5K sooner than later..

So, I would buy there, because I believe we will have a sizable bounce.
We will go down mid-term and see 4xxx.

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Look at the RSI. I believe we will go down and jump off of around 40.
This is where you want to buy for long term. That shall be around 2-level on the price action.

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Last advice for the day.. Things will get ugly :) sooner or later...
Remember to control your emotions and wait as the upside is very limited now..
This is a poker game..

When you start getting scared and start doubting the whole crypto -- buy with everything you got. You Do Buy when the fear paralyses everybody..
But not you, because you're ready..

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20 MA is Very powerful support and resistance . It doesn't help us now...
Do not think we're going up until we close above it..

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This just formed

mbc47

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