Bitcoin has not closed above the lower high made on 2022 May/ June at 33000. This makes all the price action after that a long term consolidation. The market is therefore at a previous resistance, which also happens to be previous support from January 2022. I am anticipating a short term consolidation on H4 with several shooting star candles before selling BTCUSD.
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Don't be tempted to sell, until Price tags 33000.
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Price is almost at the selling zone. There is a consolidation on H4. Now we wait for a bull trap ( fakeout) to 32500 before selling.
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Don't sell Bitcoin just yet. The selling zone is around 33000.
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Patience is a virtue. Patience pays, especially in trading. Wait and sell only at 33000
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Looks like price is technically 'stuck' at these levels. Since the bearish momentum is lacking, we may see a price spike to previous highs before the bears come in.
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BTCUSD setting up for a nosedive !
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300 PIPS STRONG !
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500 PIPS FLOATING !
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BTC weekly candle setting up for another nosedive !
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If the weekly candle closes as a shooting star, that will be a confirmation of the bearish trend !
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The weekly candle is definitely a shotting star. Also, today being the first Friday of the month, the NFP will add more fuel to the fire !
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25500 is the new low on the downtrend ! BTC BLEEDS !
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25000 is the new low on the BTC Downtrend !
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Classic FAKEOUT ON BTC!
Thedeveloper