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Predicting Bitcoin’s Next Move: How Low Will It Go?

Looking at BTC on the daily chart we see price is moving downward within this channel. Buyers are currently unable to make a sustained break through of the ~$62,000 resistance level. If price continues its downward movement I will be looking for opportunities within the marked potential buy zone. If price breaks above the channel I will wait for confirmation to go long for a short-term move upwards until further data is available. What are your thoughts on Bitcoin? BTCUSD

By NovaX
Updated 4 days ago
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Bitcoin Consolidation: Key Levels to Watch for in the Cryptocurrency Market

Bitcoin Technical Analysis Current Outlook The price will consolidate between 62400 and 59940 till breaking. Bearish Scenario As long as the price remains below 62410, the bearish trend is expected to continue, with the first target at 59940. A break below this level could lead to the next bearish target of 56810. Bullish Scenario For a bullish reversal, the price needs to stabilize above 62410, aiming for 64900. If the price moves above this level, the uptrend could extend towards 70,000. Key Levels - Pivot Line: 62400 - Support Levels: 59940, 56600, 52800 - Resistance Levels: 64900, 67200, 70000 Expected Range The anticipated movement range for Bitcoin is between support 56900 and...

By NovaX
Updated 7 days ago
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Bitcoin Price Analysis: BTC/USD Ready to Surge as Market Consolidates

BTC/USD Daily Chart Analysis Trend Analysis: - The daily chart displays a persistent bullish trend characterized by higher highs and higher lows since late last year. - Although experiencing some consolidation and volatility recently, the price has managed to stay above crucial support levels. Support and Resistance Levels: - Immediate Support Level: 65,000, serving as a robust support in case of a price retreat. - Next Support Level: 62,400, a significant support level previously tested. - Immediate Resistance Level: 70,000, potentially hindering upward movements. - Next Resistance Level: 73,800, a critical resistance level aligned with recent highs. Technical Indicators: - Recent price action and candlestick patterns indicate consolidation within...

By NovaX
Updated 2 weeks ago
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Enhancing Bitcoin Trading Strategies with Fibonacci Levels

Trading Plan: Long Position Entry..! 1. Market Situation: - The market is currently moving towards the 1w +fvg (insert specific market or asset). - There is an expectation for price action to reach the 4h fvg (four-hour Fibonacci retracement level). 2. Expected Scenario: - A potential rejection is anticipated at the 4h fvg level. 3. Response Strategy: - If the anticipated rejection takes place, attention will be paid to the formation of a 4h +fvg (four-hour Fibonacci retracement level) as a potential reversal signal. 4. Entry Criteria: - After confirmation of the 4h +fvg formation following the rejection at the 4h fvg...

By NovaX
Updated 2 months ago
  • 0

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