Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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When charting (TA), we look at multiple timeframes and each timeframe has its own meaning and tendencies.
Bitcoin (XBTUSD) can look bullish short-term, 1H timeframe while looking bearish long-term, weekly (W) timeframe, as an example.
Charts are always changing... This is something to keep in mind.
The 1H (short-term) chart can look bullish and strong at one point, but only a few hours later everything can change if a support level is broken.
It is important to pay attention to the timeframe.
Right now we are looking at Bitcoin (XBTUSD) again on the 1H timeframe and this chart is now bullish, compared to earlier to it was bearish... but why?
Prices are now trading above EMA10/50/100 and MA200 before prices were trading below those levels.
Trading volume is starting to increase before the trading volume was low...
This is how it all works... We translate what is coming from the charts.
Bitcoin right now is bullish short-term... Thanks a lot for your support.
@ProjectSyndicate, if we break through $9500 level with large volume and hold then we are going to get some good gains. Hold as long as possible thats my advice
AlanSantana
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@Crypt1c_one, I will take from your advice as well... I will hold longer.