BitcoinForex (SPOT)

Bitcoin ($BTC): Weekly Updates Analysis

Unfortunately many people have not understood what is happening, but the next 1-2 months may change their minds. The technical context clearly says one thing, but this could make many setups fail on the Crypto market. Having said that, on the daily chart we have been stalled for several sessions, and we are doing it right in the resistance area, and this leaves the door open to any scenario (wave 1 or A?), if we look closely at the chart we see that there are just a few points missing upon reaching 29.475, and as long as we stay above 26.750 the trend remains bullish. Up to this moment all our previous analyzes have been corrected, but we don’t live with analyzes but with setups (positioning). From our point of view, we cannot exclude a bearish leg from the resistance area, but to take a short position we should also have a stop loss, and this is hard to find because if $BTC is working a bullish impulse structure (12345), the bullish leg started from 19.800 area should be a wave 3, and if this is correct we should see a major rally (perhaps with a new top).

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