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The technical setups posted below use simple trend detection, support and resistance, channels, pattern and candlestick analysis. We aim for high-probability trade setups on BTCUSD and use very few indicators. All charts use BNC’s Bitcoin Liquid Index for maximum accuracy.
The timeframe for trades is 1 to 7 days, so we’ll use 4h candlesticks. Bitcoin is best traded as a purely speculative commodity on 4h+ timeframes.
Market Sentiment And Macro Key Points
This section is an overview of news headlines or events that may affect BTCUSD.
Bitcoin miners will start signaling support for the long awaited Bitcoin scaling solution, Segwit, tomorrow.
Long Term Technical Analysis
The long term chart continue to shows a bullish trend. The price of a bitcoin is still within the long term uptrend channel, and looks likely to test the top the upper bound. The Stochastic momentum indicator looks ready to break out of a consolidation pattern,
Read more ... source: TheBitcoinNews
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