๐ Daily TA: /USD) | 10-11-2021
Hodl, dear members of LeoFinance!
Today, I would like to comment on the price chart of Bitcoin.
In the 4-hour chart (4H), we know that BTC/USD has exited the Bullish Flag and is, now, resuming the uptrend: If this bullish candlestick forms then this will be an initial signal of change in sentiment.
However, recently the price has been quite volatile in the last several hours BTC/USD hit a new all-time high of $69000, and then it dropped to $63000. After that, a rebound has started. So, the question is if the situation has changed? To receive an answer let us have a look at the 1-hour chart (1H) of BTC/USD: It is obvious that the market has undergone a lot of volatility. However, the price of Bitcoin still continues its journey within the trajectory of the newly created Ascending channel. That's why I would say that the uptrend continues in the 1-hour chart as well and nothing has changed.
To be continued ...
As of the time of writing, one BTC costs $65487 on the Bitstamp crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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