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Good afternoon, the US500 opened Gap down overnight, the main index repeated this example during the day as well. At the moment we are below the level of 3875 and tested the orderblock from the bottom, if it continues to trade at these levels we will expect a further decline in Bitcoin and the whole crypto market. The dollar index has tested the 110 pips resistance from below if we consolidate above 110.7 pips next stop is 117.
Long
Bitcoin needs to consolidate above $20100 and storm 20500, only after fixing above 20500 can we see an upward move. Also on the 4-hour timeframe, we have a convergence on the Relative Strength Index, which can also serve as a signal for a local reversal
Translated with www.DeepL.com/Translator (free version)
Short
If bitcoin tests the $19400 orderblock from below and runs under it, I expect a decline in the break.
Be patient, have a short stop order, and good luck)
P.S.
I do not adhere to a time frame in my analysis of the instrument, a reaction in the instrument may occur earlier or later. It is important to understand the price movement when reacting to the level, as well as the reaction of the buyer and seller. Well, a couple more secrets, but you already have some ready-made material)))
Translated with www.DeepL.com/Translator (free version)
Good afternoon, the US500 opened Gap down overnight, the main index repeated this example during the day as well. At the moment we are below the level of 3875 and tested the orderblock from the bottom, if it continues to trade at these levels we will expect a further decline in Bitcoin and the whole crypto market. The dollar index has tested the 110 pips resistance from below if we consolidate above 110.7 pips next stop is 117.
Long
Bitcoin needs to consolidate above $20100 and storm 20500, only after fixing above 20500 can we see an upward move. Also on the 4-hour timeframe, we have a convergence on the Relative Strength Index, which can also serve as a signal for a local reversal
Translated with www.DeepL.com/Translator (free version)
Short
If bitcoin tests the $19400 orderblock from below and runs under it, I expect a decline in the break.
Be patient, have a short stop order, and good luck)
P.S.
I do not adhere to a time frame in my analysis of the instrument, a reaction in the instrument may occur earlier or later. It is important to understand the price movement when reacting to the level, as well as the reaction of the buyer and seller. Well, a couple more secrets, but you already have some ready-made material)))
Translated with www.DeepL.com/Translator (free version)
Good luck and save your deposits
