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💰Bitcoin price showed a decrease again📉 Negative dynamics again prevails in the market. This state of affairs is, of course, sad. But we need to clearly understand what to do in this situation and at least roughly imagine where the price will go. Today we will consider the timeframe of 1 day. Here we can see the price movement within the medium-term consolidation 🕯, which started in the middle of March this year. It lasts for more than three months. The upper boundary of the consolidation is the resistance level ~$71,400. Locally, it is corrected as a zone between the marks ~$71,400 and ~$72,450. From below, the main support is the level of ~$61,000. Also, the psychological mark of ~$60,000 and the support level at the local low at ~$58,350 are clearly seen as support. We saw many attempts to break the lower boundary at ~$61,000 earlier. I counted a total of 4 times, each ending differently. There is now a fifth attempted breakdown occurring. It may be most similar in nature to the April 30-May 2 "false breakout" when even the candlestick bodies went down below the level. I do not exclude that the price will reach the conditional support at the local minimum of ~$58,350. For now, I wouldn't expect a move into any kind of full-blown corrective stage on Bitcoin ⚡️
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OMNI analysis: Price tested the support area multiple times and bounced from there. You can also open long positions at the support area with tight stop loss. Support Area: $12.80-$13.80 Resistance Area: $17.90-$18.90 #OMNIBULLISH
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Your Sunny came to explain to you the reasons for the current fall and share his expectations on Bitcoin💰 The goal of the big market player🐋 was the well-known hunt for sell stops liquidity: in the sideways movement, where #BTC was since the beginning of May, the whales were actively increasing their positions. Yet, before the growth starts, this rocket needs to be 'refueled' - it's the reason why we see huge liquidations of retail trader's long positions who take $66,000 as a key support and buying out Bitcoin from their sells 'at a markdown' Current situation may look unclear, but for me there is no doubt about it, Traders! Below we have a bullish🐂 orderblock of $61,000-$63,400, which when tested at the same time completely filled an Imbalace on the 1D TF. A deeper dive into this zone is possible, but the key argument fort buys will be invalidation of the bearish bias: update of the last Swing High (currently $66.500). The main target remains unchanged - Raid of the April 8 high of $72,900. However, much more interesting in view of the falling dominance #BTC.d🔗 now looks not the payoff of Bitcoin, but medium-term investments in Ethereum🔹 and related tokens. Each of the fresh altcoin has odds of 2-3x in the coming week📈 Put 👍 if the current market environment has become clearer to you! Join our Channel, trader! 😈
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Good day, Traders! Is everyone in same piece after the spill❓ ➡️Unfortunately, the market can sometimes present surprises, this retracement is proof of that. The sentiment remains bullish🐂, my friends, but local movement did not favour us🥲 ⚠️ The main thing is to not panic, my friends! Even if futures positions were closed on stop loss, it is not a reason to sell out spot at low prices, and vice versa - a moment to average your portfolio! Your Sunny is preparing a detailed analysis for you, where we will explore the reasons and goals of this fall of #BTC and the market as whole. Support with reactions if you want to see it as soon as possible🔥 Join our Channel, trader! 😈
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Opened LONG on #FIL / USDT by market👑 ➡️ Entry: below $5.25 📈 Take profits: $5.3, $5.4, $5.4 🪙 Leverage: no more than 10x 🚫 Stop loss: $4.95 ✨Trade explanation: There is a reversal pattern STL/ITL/STL on 1h TF: the first low that withdraws the liquidity pool (Short-Term Low), the second low updates the previous one (Intermediate-Term Low), and the third low which rebalances the upward movement. This pattern is almost equivalent to the Three Dives Pattern, but is used in the AtoB Concept (a trading strategy based on tracking price delivery from one liquidity pool to another) I place targets on the first trouble area - Imbalance $5.257-$5.386, and the test of the next supply zone - bearish orderblock $5.386-$5.471 and a breakdown of the EMA100 located there #FIL🔥🔥🥵
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