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BTC1! trade ideas

Will Bitcoin hit 40k in the coming weeks?Bitcoin made two breakout attempts recently. The second breakout failed and this failure is indicative of more downside in the coming days. Supports that are well in target are just 6 to 8% away and lie close to 49k to 50k. A strong support of rising 200ma is well in sight. This range seems like a good support zone. The confluence of trend line support and moving average may well lead to a short term bounce from this lower range up to 56k. But I truly wonder if the support zone near 50k is going to hold for long. To me a high probability of 40k exists, yet that can only become likely if the support range of 49k to 52k gives away. Why does 40k that seems a fair probability? Generally two quick attempts at the upward breakout have lead to selling pressure. Often it's been seen that if a quick second breakout fails, such failure may very likely to lead to a strong move in the opposite direction of the breakout. With that being said, let's see how the price action shapes out in the coming weeks ahead.
CME:BTC1!Short
by amar_gr
4
BitCoin – Next Tulipmania?BitCoin – Next Tulipmania? Selling Pressure is seen in BitCoin after Elon musk announcement. Chart is around its major support level. If 39520 breaks on weekly basis then Prices will easily reach 26650. Extended target can be 19100. If the above condition fails then good reversal is also possible from current level. So keep your stop losses as per your risk reward. Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.
CME:BTC1!Short
by SagirKazi