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Bitcoin analysis
Cryptocurrency market cap is up to $213b from $195b a week ago. Many cryprotrading enthusiasts think a short-term bounce is imminent.
The resistance break we can even look up to 6919 resistance For looking down there we have the 6250 suport and break this 5858.Key Points Bitcoin price mostly traded in a range above the $6,300 support area against the USD. There is a crucial breakout triangle pattern formed with resistance near $6.5K.
following trend line established on 16th September 2017 if we cross my blue hma line it’s a trend reversal I'am still more bullish than bearish. However this could go either way.
50MA has capped downside over the weekend. 4H close below $6349 (50MA) would allow drop to $6K. keep trading this range until it's un-tradeable. We seem to have a ff* strong resistance at the 6550 lvl.
Looks interesting to identify Trend Reversal. Broad Crypto market is holding firm until further clues from bitcoin
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Disclaimer: invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses.