readCrypto

Bitcoin (BTC) - April 29 (end of sideways?)

readCrypto Mod Updated   
BITMEX:XBTUSD.P   Bitcoin
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It can be said to be between the downtrend line (2) and the uptrend line (1), and if the range is further reduced, it is on the sideways from 500EMA to 7757.

After April 29th, you need to check which direction you want to turn to at 7939 or 7299.

There were three challenges over 7757.
If the 7757 challenge continues and fails, it is expected to eventually fall.
At this point, you need to see if the key point is to fall below the 500 EMA, downtrend line (2).

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Now, I think it's time to think about how to respond to profits or losses in the future rather than to determine whether they are profitable or lost.

Bitcoin Halving has about 14 days left.

I think that all situations are putting pressure on the coin market, so the expectation of the rise has decreased a lot.

At the moment, I think it is more important to trade according to the flow of the chart than the words of any article or analyst.

I don't think the target point is important.

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See support, resistance, and abbreviation points.

It's time to focus on selling rather than buying to preserve profits.

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Description of abbreviations shown in chart
R: Resistance point or section, where a counter is needed to preserve revenue
S-L: Stop-Loss point or section
S: A point or section that can be purchased for profit generation as a support point or section
Comment:
Since the CME BTC charts have no movement, we will publish them later.
Comment:
Touched 2.86 point.
You need to make sure you can touch the 2.72 point.
We also need to see if we can resist and decline at 2.97.
I think it is important to be able to stay below the 2.86 point after around May 7.
Comment:
After the time indicated on the chart, you need to make sure you are still supporting at point 7939 or above the uptrend line (1).
We also marked the next expected point.
Comment:
It is rising above the top of the ascending channel.
It requires careful trading.
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