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Lots of knife-catchers are longing for this dip again.
At the first sign of a bounce, people will aimlessly pour more money into a chart that has just lost multiple critical support levels.
So far, $360 has acted as a strong liquidity sweep for a counter-trend move, but only time will tell if these longs are about to get eaten in another violent flush down.
Higher low on the 4H after defending the breakdown below $90.5K again. Short-term momentum looks strong tbh; price has had multiple chances to flush lower and has held each time.
Nice signs of stability after a brutal 30% correction from the top. Just need acceptance above $91.5K for BTC to challenge the $94.5K breakout.
That said, being so close to the critical $90.5K is risky since it's the pivotal flush point. Losing this support would be concerning price action and would almost certainly lead to a leg down. #BTCVSGOLD #TrendingTopic #WriteToEarnUpgrade
Ghost Writer
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Hausse
$BTC Bitcoin has NEVER dropped below its electrical cost
Current Electrical Costs = $71,000 {future}(BTCUSDT) #BTCVSGOLD #WriteToEarnUpgrade #TrendingTopic
Relative weakness showing after losing the local support at $3.00 and $2.80.
Needs to stay above the ~$2.50 critical support and reclaim $2.80, otherwise the $2.33 wick is likely to get hunted, which probably kicks off a larger flush down.
TRX flipped the $0.285 level as discussed previously, confirming bullish intent and pushing cleanly through the black-box resistance. That level is now acting as support, which keeps higher-timeframe structure constructive.
Price is consolidating above the flip, but a bearish divergence has developed during this pause. If it plays out, a corrective move toward the $0.288 area is reasonable without breaking structure.
To invalidate the divergence, TRX must push higher and tap the $0.30 resistance. Acceptance above that zone would neutralize the divergence and set up a high-volume retest of the flipped level as support. #trx #TRONEcoStar #TrendingTopic
- I expect the price to continue rising in the short term, aiming first for the 66.59 and possibly up to the 70.92 region if momentum persists.
- For a long entry, confirmation such as a bullish engulfing or a strong pin bar above 64.59 would be ideal, alongside a rejection from the 63.32 area.
- Take-profit targets can be set at 66.59 and 70.92, with the stop-loss placed below the recent swing low.