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Hello traders investors and community. The prince is here for a royal analysis on bitcoin. There are some good signs revealing in the charts which I show you.
We are looking at the 4-hour chart. Let's go!
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As you can see in my chart, bitcoin is trading in a narrowing descending wedge pattern which will break-out the next time. You can see it in my chart marked with the blue trend-lines.
These patterns are known as almost timely break to the upside with a heavy price reversal of 90 %.
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For now, after break-out bitcoin will reach the target zone seen in my chart 9895 - 9900.
As on my turn, I have opened a long position in 8400 with SL at 8340 at as the last point confirmed the lower line of the wedge.
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After reaching the 9895 - 9900 we will have a pull-back from which we should recover when bitcoin does not give us bad bearish signs.
As traders, you always have to be patient and rational. The key element for a good trader.
Hopefully, you enjoyed this analysis and its profitable for you. Feel free to support for more royal market analysis. All the best ;)
Information provided is only educational and should not be used to take action in markets.
__________________________________________________________________________________________________________________________________________________________________
Hello traders investors and community. The prince is here for a royal analysis on bitcoin. There are some good signs revealing in the charts which I show you.
We are looking at the 4-hour chart. Let's go!
__________________________________________________________________________________________________________________________________________________________________
As you can see in my chart, bitcoin is trading in a narrowing descending wedge pattern which will break-out the next time. You can see it in my chart marked with the blue trend-lines.
These patterns are known as almost timely break to the upside with a heavy price reversal of 90 %.
For now, after break-out bitcoin will reach the target zone seen in my chart 9895 - 9900.
As on my turn, I have opened a long position in 8400 with SL at 8340 at as the last point confirmed the lower line of the wedge.
__________________________________________________________________________________________________________________________________________________________________
After reaching the 9895 - 9900 we will have a pull-back from which we should recover when bitcoin does not give us bad bearish signs.
As traders, you always have to be patient and rational. The key element for a good trader.
Hopefully, you enjoyed this analysis and its profitable for you. Feel free to support for more royal market analysis. All the best ;)
Information provided is only educational and should not be used to take action in markets.
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Information provided is only educational and should not be used to take action in markets.
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