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Need to sell Bitcoin, IG is closed for maintenance again!


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      10/06/21 10:53

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    Trader11
    Joined 06/12/22 23:50
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    • Elliott Wave Analysis TradingLounge Daily Chart, 7 December 2022, Bitcoin / U.S.Dollar (BTCUSD) BTCUSDElliott Wave Technical Analysis Function:Follow trend Mode:Motive Structure:Impulse Position: Wave ((3)) Direction Next higher Degrees: wave I of Motive Details: Rise an uptrend in wave 3, Wave 3 is usually 1.618 or 2.618 x the length of wave 1 Wave Cancel invalid level:15479 Bitcoin / U.S.Dollar (BTCUSD) Trading Strategy: Bitcoin price remains under heavy sellpressure below the MA200 MA50 indicating a strong downtrend. The wave oscillator isbelow the zero line with decreasing momentum. but still The price tends to bottom as thestructure of the 5th wave. has already ended at the level of 15479, therefore it is likely toreverse again. And the price is expected to trade above 21437, but not below 15479.Overall, we still need to trade cautiously as there is still periodic selling pressure. Bitcoin / U.S.Dollar (BTCUSD) Technical Indicators: The price is below the MA200 MA50,indicating a clear downtrend. The Wave oscillator is below the Zero-Line is a bearishmomentum TradingLounge Analyst: Kittiampon Somboonsod Source : Tradinglounge.com get trial here!     Elliott Wave Analysis TradingLounge 4H Chart, 7 December 2022, Bitcoin / U.S.Dollar (BTCUSD) BTCUSDElliott Wave Technical Analysis Function:Follow trend Mode:Motive Structure:Impulse Position: Wave 1 Direction Next higher Degrees: Wave 1 of Motive Details: Sub-wave 1 of wave 3 and Once complete, the price will drop again in wave 2. Wave Cancel invalid level:16017 Bitcoin / U.S.Dollar (BTCUSD) Trading Strategy: Bitcoin price remains under heavy sellpressure below the MA200 indicating a strong downtrend. The wave oscillator is below thezero line with decreasing momentum. but still The price tends to bottom as the structure ofthe 5th wave. has already ended at the level of 15479, therefore it is likely to reverse again.And the price is expected to trade above 21437, but not below 15479. Overall, we still needto trade cautiously as there is still periodic selling pressure. Bitcoin / U.S.Dollar (BTCUSD) Technical Indicators: The price is below the MA200,indicating a downtrend. The Wave oscillator has a Bearish divergence Price reversal.
    • 06 December 2022 Spot Gold The price of gold did extend its move higher reaching our 1805 resistance target before finding resistance and once again starting to retrace. The moving averages suggest keeping a long bias to trades on the commodity. We are waiting for the current pullback to end with a bullish candle stick pattern before looking to find long entry once again. This is provided that the pullback does not extend past (close below) the 1735 support level. In this scenario, 1805 provides the initial upside resistance target, a break of which would further target the 1875 level.   Brent Crude Oil The price of brent crude oil could not break resistance at 8770 and has instead retraced back to support between levels 8220 and 8080. It appears time now for the commodity price to either break or bounce off the 8080-support level. A close below this level would consider a downside breakout and target a move to 7630. A bullish candle stick reversal (before a downside break occurs) would instead target a move back to 8770, while a close below the reversal low could be used as a stop loss indication in this scenario.         Our weekly technical report is compiled by in-house senior market analyst, Shaun Murison.
    • There was some exceptional volatility last week and the hints of tentative trend developments – most notably a breakdown of the Dollar and attempted rally for US indices. Yet, those moves have abated to start the new week with data and technical levels playing a bigger role in market conviction.        
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