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BITCOIN ANALSYS
SHORT TERM INTRADAY ANALSYS FOR BITCOIN UNDER A 30MTF.
BITCOIN ANALSYS UNDER A 30MTF
The figure bilow shows chart of bitcoin under a 30mtf. A 30mtf of bitcoin is showing a clean breakdown of the (BEARISH RISSING WEDGE) pattern which shows clean sighns of short term bearish pressure and spot trader profit booking frenzy. How ever bitcoin is now sitting at a key local support at (80,674) and trying to maintain bullish momentum if bitcoin breaks this support we can see another dump till the strong support level at (79,475) right now bitcoin officially created a range boun price action sandwitched in between (82,725-80,674) levels. Howver a breakdown of the lower channel (80,674) can lead to another short term sell off till (79,475). For a bullish breakout a clean breakout of the upper channel (82,725) can lead to a pump till 83k level.
KEY LEVELS TOBE NOTED ON THE CHART=
1-For a short trade monitor the (80,640) level for a clean breakdown to enter a short position.
2-For a bullish breakout monitor the (82,205) level for a breakout to go for a long till 83k
3-Risk managment matter any orderflow created after breakdown or breakout canbe your stoploss stay vagilant THANKS$BTC