BITCOIN: Bullish Scenario - Cup & Handle

[aezakmi]

BTC/USD Daily Chart

This bullish scenario includes Bitcoin retesting the 10500$ resistance, breaking it, than going towards the 11800$ region and perhaps returning to 10500$, which will act as support this time.

Descending channel on the RSI too and decreasing bearish MACD - Histogram.

Keep in mind that we could first revisit the 55 day EMA (blue), which aligns with the lower line of the handle - currently at 9200$.
The white drawing is just for orientation.

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Thanks for reading and safe trading!✌

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[aezakmi]

Update 1:

• currently at the bottom of the channel
• possible bullish "M" on the MACD-Histogram
• if we break the channel, 200 day MA (grey) is the next stop (8800$)

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[aezakmi]

Update 2:

• unfortunately bulls lost it
• currently at the 200 day MA, which aligns with the 21 weekly EMA
• if this level doesn't hold us either, next stop is 8200$ - the 55 weekly EMA

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