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BTCUSD Technical Analysis

Discussion in 'Expert Level' started by Arpit, Sep 9, 2018.

  1. Arpit

    Arpit Moderator Premium Member

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    BTCUSD Technical Analysis
    Hello friends. I hope you guys have followed by previous BTC Analysis. We reached our target of ~7400 and I warned you guys regarding a dip. That was what happened.

    Now seeing the current scenerio, and the previous scenerio, the market is now back to where it was previous to the re-examination of the ETF’s. I hope you guys get what is happening in the market.

    The price has currently sustained the ~6200 level which is always a very important level. I am currently expecting a range bound market 6300-~6800 as this has been seen before. And break below 6200 and the market sustaining the level will lead to the 5800–6000 scenerio come in place again.

    The range bound market can be played well at the moment with strict SL. The RSI is very much oversold and MACD is also expecting a crossover.

    Hence, i would suggest the following trade setup.

    The analysis was done on September 6
    xyzzy likes this.

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