RATE Group | Bitcoin, Cardano, Stellar, Crypto MCO
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Bitcoin, Cardano, Stellar, Crypto MCO

10 Nov Bitcoin, Cardano, Stellar, Crypto MCO

Posted at 01:08h in Cryptocurrency News by

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Long and short entries for this article are found utilizing the Point and Figure chart style.

Bitcoin (BTCUSD)

Bitcoin (BTC) Point & Figure Chart.

If you’ve looked at any of my past articles identifying entry zones for Bitcoin, then this chart may look familiar. It may look familiar because it remains unchanged. The fact that the chart remains unchanged displays one of the strengths of Point & Figure analysis as well as a source of frustration for traders who are used to the factor of time in their trading. The current trend for Bitcoin is bearish, but it is very close to changing. If Bitcoin moves back up to $10,000, then this would create a double top right against the dominant objective downtrend angle. Entry at $10,200 would be extremely bullish by breaking both the downtrend line and the double top.

We can also identify a profit target using the vertical profit target…

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