Bitcoin Daily Follow Up Technical Analysis

Bitcoin on its daily chart is confirming our ABCDE pattern, but with the possible initiation of a 12345 wave cycle if it breaks the maximum resistance at 63k and limited by the upper Bollinger band.

The EMA50D1 at about 51k now behaves like strong support. Congruent to that and with the current price of 57484.33, days ago, there was a crossing of tenkan-sen with kijun -sen and the exact point of 55k, which started the confirmation of wave D or possible wave 1.

However, we believe that Bitcoin in the next few days will have a lateral movement with accumulation between 51k and 62k and with a percentage variation of approximately 18%.

There are no confirmations to open leveraged positions. Indicators in favor of price lateralization with low investment interest and average trading volumes.

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Bitcoin Daily Follow Up Technical Analysis was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.

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