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Bitcoin Daily Trading - Technical Analysis BTC/USDT

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14 Jan 2020

BTCUSDT is currently retesting the old peak around $8450

Rebounding from the $7650.

Technical analysis for BTCUSDT today:

BTCUSDT is currently approaching the strong resistance zone around 8450.

Should NOT buy when the price approaches resistance

 

 

14 Jan 2020

BTCUSDT is currently retesting the old peak around $8450

Rebounding from the $7650.

 

Technical analysis for BTCUSDT today:

BTCUSDT is currently approaching the strong resistance zone around 8450.

Should NOT buy when the price approaches resistance

Should WAIT for the recovery, or wait for the break up completely before buying.

If BTCUSDT has H4 candle continue to bounced up strongly with increasing volume.

It can be a sign that the market is starting to "run".

However, since the resistance of 8450 has not been penetrated, we should not buy in a hurry.

SHOULD:

- Wait and see how BTCUSDT reacts to this resistance.

- Volume is increasing, indicating that the bulls are pushing up.

- If BTCUSDT breaks is strong 8450 is good and the uptrend continuation will be clearer, could reach 9000 in the near future.

 

The structure is that the higher lows apply to a horizontal resistance area.

This is the structure of an ascending triangle

The sign of strength is clearly shown on the BTC chart

The opportunity to trade is yet to come.

Can enter half when the price retests 8000 and form a setup price action UP

The second half of the position will be entered when the price model is broken UP again

 

 

 

 

 

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Good Luck and Success !