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Bitcoin

BTC analysis

By HudaK
Updated
XBTUSD
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Day chart.
The current BTC price action is forming bearish flag which will lead us to double bottom.
There is enough RSI room for downward.
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My mistake. The target is around 6760.

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RSI sideway movement at the crucial level.
BTC is going to make a direction.

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Trade active
Breakdown.
Small rebound expected at marked price level zone.

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Target update :
The red line could be pierced.
5850~6200 is target for bearish flag.

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Then the target of the head and shoulder pattern is around 1850.
Time frame of the chart below is weekly.

Bear. Towards. Capitulation(BTC) $1800.
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We also can see inverted Cup and Handle pattern.
In this case, the target is around 3550.

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Temporary target reached.
Going down again after recovering RSI

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Short term target : around 8500

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RED : HEAD AND SHOULDER (target : around 4300~4400)
YELLOW : BEARISH FLAG (target : around 6200~6300)

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Expecting price action like this

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Huge drop from 8500 to 4000 for 10 days(29th March)
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Trendline of RSI has been broken.
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Bitcoin (Cryptocurrency)BTCUSDChart PatternsshortTrend Analysis
HudaK

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