Note

BITCOIN analysis for week commencing 28th June 2021 (revised)

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#OPINIONLEADER#


BITCOIN continues to drift sideways in quite a narrow range (for BITCOIN).

The head & shoulders pattern is still intact and has yet to be negated.

We are also heading towards a "death cross" where the 50 sma or ema moves down over the 200. Although this is a very bearish scenario, as the moving average is a lagging indictor it doesn't necessarily mean price is headed lower. $29,000 is a key number to look out for and if BTC falls below this level then declines could accelerate.


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i wanna do bitcoin trade. do you have advice for newbie like me?
ralfkdean
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This depends what you want Anjani - whether you want to learn trading or just trade BITCOIN. You need to understand trading to trade any instrument. BITCOIN isn't something I trade because of wide spreads and volatility. Let me know what it is you hope to achieve.

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