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10500

Bitcoin weekly flow overviewMany investors and traders are still optimistic about bitcoin. But how positive are they while price have been stuck in consolidation from first of May till now. It is hard to be patient and I'm really sorry for many Hodlers, who are 100% sure that Bitcoin will continue bullish trend without any retracement. I honestly believe Bitcoin will continue bullish, once price will break through ''Sellers supply'' with such a volume that will stop sellers. After that we can still expect some kind of retracement but maybe not big one for some time. As a trader I personaly like to see what's going on at the moment with price and where is our chance to take opportunity for buying more Bitcoin or melting them into USDT as a traditional trader or you can play it by leverage and follow shorts and longs once price will break important levels. Important level for taking short position is below 8860$ level. If buyers are able to stay positive for longs, we have to wait for price to break 9500$ resistance level and stay above for some time. In case, sellers will continue then price will follow our expected targets; T1 short = *7200$, T2 short = *6500$, T3 short = *5500$ In case, buyers will continue then price will follow our expected targets; T1 long = *10500$. Good to know: 10500$ resistance level is critical to buyers. Price got denied many times (from mid 2019 till now) and each retracement increased after by lenght and power.
COINBASE:BTCUSD
by EliteFxAcademy
Bitcoin(BTC) Comprehensive AnalysisHello friends As you can see, in the bitcoin analysis in Time Frame 666, we see a purple triangle pattern that now holds the historical ring of the future of Bitcoin after the third Halving. If the bit succeeds in climbing from the top of the triangle, it acts like an arrow green line in the image. If the bit manages to get out of the triangle because it has to pass the roof of the tunnel and the roof of the yellow triangle, it will surely be accompanied by a money back. It should be noted that this yellow triangle has been associated with the bit since 2017, and it will certainly not be easy to get out of it, but the analysis has a scenario for both upward and downward trends. Ascending scenario: As mentioned, the prerequisite is to exit the purple triangle. We have included the impressive Fibonacci in the chart, which will surely be very important to break the Fibonacci 1/618 with the price of 10232. Since the important resistance is against the 10500 trends, the reversal of the trend will not be unexpected. But by crossing the purple triangle, the process acts like a green arrow. To ensure a daily Candle above this price, it can be hoped that the price will not return to the yellow triangle, in which case it will continue until the resistance of 13970. However, it should be noted that according to the law of a triangle, when the process leaves the triangle, it rises to its height. So the next destination will be 19745 and will eventually rise to 26570. Descending scenario: The trend could be the same as it was last time when it was in the purple triangle, although a backlash prevented a catastrophic downturn. And that was a sign that the cows were doing well. But it can happen again that in short, the price will go back to 8642-8121-7300-6435-3782 and the repetition of history will happen again. Thank you.
by Coin_Kurd
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