SublimeTraders

Daily analysis XBT/USD 007

BITMEX:XBTUSD.P   Bitcoin
Hi everyone, back with some new insight.

On the 30 Minutes chart things are looking more to the upside , we have a gravity line that seems to pull everything together (marked in this image), this line also "helps" with the squeeze we are now facing between the downtrend line and the bottom of the upward channel.

For positions in higher timeframes this basically is a no trade zone , we can prepare some entries near key points of the chart.

On the daily chart let's not forget the downtrend channel we are in, an important aspect to take into consideration

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