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BTC Macro Cup & Handle Forming w/Golden Pocket Breakout?Bitcoin rejected at the $45.5k level as we forecast in prior weeks live classes and we can see the sell order block at this level as well. Right now it looks like BTC is forming a macro cup & handle pattern, which would be a good thing here -- for Bitcoin to retest recent support (the handle) and then bounce off of this. I'm targeting the FWB:48K - $50k level as the next resistance level before heading higher (which is the macro Fib Golden Pocket retracement zone). The next buy order blocks are around $38k but the likely support levels are the 21 and 50 week EMA's around $30k and $35k respectively. Hard to say what happens next, with all eyes on the BlackRock and other ETF expected approvals. If for any reason ETF's are NOT approved 1st week of January, we could see a 50% drop and the Bitcoin CME gap potentially filled around $20k and as a final shakeout of retail investors.
COINBASE:BTCUSDShort
by BrettFogle
BTC/USDT still bearishBitcoin has confirmed another fall scenario. This time I see the area marked by the yellow box as the return target of the bullish movement. This region marked coinscide with the new one in green that is part of the Ichimoku indicator and that can function as a support area. Another point that leads me to think about confirming this movement is the Weis Waves indicator, which has formed a bearish pattern that has not yet been concluded and with low effort from sellers, which shows little demand and a lot of Bitcoin supply at the moment. Therefore, the next formation in the indicator will be the entry of buyers, which may cause accumulation and laterality, or a strong upward price impulse, resuming a possible test at the historic top. The WT_CROSS indicator also confirms the continuation of the bearish movement. One more note: despite the fact that the price of Btcoin has been falling for days, many Altcoins have been gaining price and volume, which means that BTC is losing dominance and that if we are not yet, we will soon be in a fabulous altseaseon. I point out that these are just my mistakes, not a financial recommendation
BINANCE:BTCUSD.PShort
by fgolobovant
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