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RE: As posted on Bitcoin.Live: BTC Price Sub $3k Potential!! Change in Prmary Count!!

in #haejin6 years ago

Excellent analysis in the video my friend
as we have seen many times over the past year. The 20-day exponential moving average offers resistance with a pullback, and we seem to be trying to break below $ 3500. If we do this, the market is very likely to move towards the $ 3,000 level, which is of course a large and psychologically significant number. With this in mind, however, it is very likely that we will continue to see a lot of cuts in the market, which seems to be uncoordinated most of the time. Frankly, I think the majority of the sale is due to the lack of interest at this point, not necessarily to the new sales opportunities that appear on the market.

If we are able to break above the 20 day exponential moving average, even if this is a short term bullish move, we will still have to deal with the bearish pattern of $ 4000 and then the 50 day exponential moving average on the daily closing. I think that anything between now and then may be an opportunity to sell when you make progress when you see weakness. If you are a long-term trader, you might be looking for a base closer to $ 3000 but I think if you are already holding back as a rule, you will have plenty of time to enter and there is no need to rush at this point. I expect that we will see continued lack of interest in the front.

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Personally, the $1,100 level is very likely. However, this level probably won't be hit in a grinding sequence but a rather fast and quick and temporary wick.

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