Quick BTC update 28.11.2019

in #btc • 5 years ago

It's time for some classical TA...

In the last two years, BTC created this big zone of resistance and support. We saw countless retests and bounces which proves that the market respects this zone.

When BTC could not hold the price range of the support zone any longer in Nov 2018, it immediately crashed 50% (capitulation).

The "point of control" is also in this area. (POC is where the highest volume of buying and selling occurred in a specific time period, here the last two years)

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BTC had recently risen above this zone again and now retested it. It bounced exactly in the middle of this zone and is now attempting to break out again. This is very bullish.

I would not be surprised at all if we see some crazy bullish moves in the coming weeks.

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If you think this to be useful information:
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Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
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Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...

Have a nice day :-)

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5 years ago in #btc by
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    • [-]
     5 years ago 

    Next BTC update will be published tomorrow.

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     5 years ago 

    Next drop incoming. Will it stabilize before 6500? If not it will drop to 5500.

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    [-]
     5 years ago 

    I am not an expert although that does look very strong. Bitcoin pricing is apt to move in a big way both up and down.

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    [-]
     5 years ago 

    Thanks and resteemed :-)

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      [-]
       5 years ago (edited)

      I’d say we head towards the bottom of the range first then chop sideways in that range for a few months before breaking above it.

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         5 years ago 

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