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BTC's Accumulation Phase: Identifying Cycles and Support Zones

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Hello,

BTC has been in accumulation since spring this year. The white dotted lines show the accumulation curves. There are multiple cycles, each with a pump and a dump arm. The cycles might be different in size, but they share the green bottom support zone where large investors prefer to buy.

Bitcoin has a bullish cross signal from the MACD indicator at the bottom. However, the current price is far above EMA 20/50/100/200. Thus, a dip might manifest to correct the price per the EMAs. There's a high probability that players will buy the dip, though and the bull run can continue.

I wouldn't buy now because of the potential dip and because the price's at the falling trendline resistance. I aim for long positions, but I'd wait for a correction first and closely monitor how the price reacts around the falling resistance.

Regards,
Ely
交易結束:目標達成
The analytics had a bullish indication from the green support line upwards with the first target price at $72.5k. With the price having developed above $95k, Bitcoin now fulfilled all target prices of the analytics. The stop loss might be moved up from the support line to trail profit. 🪙🚀

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