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October 5, 2022
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Guide & Analysis

Bitcoin enters Indefinition Zone – Wait!

Undoubtedly, we scrutinized a Bitcoin Analysis

On the 4-hour chart, the main digital asset in the world, it makes descending tops while making ascending funds; this represents a triangle, as in the figure below which means indefiniteness. Wait!

Graph by Trading.View

There are chances that the break from this pattern will be upwards since the biggest trend is upward and, generally, ’this movement continues the trend. But the main information he gives us is uncertain.

Next Targets

In this case, the next targets are simple, obeying the condition that you break up or down.

Note that the closing of the last 2 candles is 2 hammers which can drive the price up. If it happens, the next targets are the resistance drawn around $ 54000 and ATH in $ 58120 (previous top).

In the case of break down, let’s look for the supports: the first around $ 44000. After that, if it continues to fall, we lose bottom and we have a downward trend reversal and the next targets in $ 41150 and $ 37850 – the latter would already give a loss of more than 35% of the historic high.

But the most prudent thing at the moment is to wait. Safe to see where it will break and then, for traders on call, just look for the trend, whatever it may be.

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