Bitcoin made a new local high, it is now trading at 9100. Now there is a lot of hype on the market and not only on the market. So now I’ll sort it out for you.
I expect an exit from the triangle and a reduction in value to 8800-8700. And after I see two main outcomes:
1. Delay in price over 8850 after leaving the triangle and a set of positions with a further increase to 10000. Since the three MAs (50, 100, 200) are very close to each other, their intersection will be a confirmation. In this outcome, the green line should serve as support, from which the price will be repelled.
2. If the price does not stay above 8850, then in the future we can see its decline to 8350-8200, where the consolidation zone was beating.
I expect an exit from the triangle and a reduction in value to 8800-8700. And after I see two main outcomes:
1. Delay in price over 8850 after leaving the triangle and a set of positions with a further increase to 10000. Since the three MAs (50, 100, 200) are very close to each other, their intersection will be a confirmation. In this outcome, the green line should serve as support, from which the price will be repelled.
2. If the price does not stay above 8850, then in the future we can see its decline to 8350-8200, where the consolidation zone was beating.
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