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Home / Business / Bitcoin maintains Uptrend as key indicator Shows a large movement is imminent

Bitcoin maintains Uptrend as key indicator Shows a large movement is imminent



Bitcoin price bulls work to maintain the daily trend and volume drops during the holiday weekend. Meanwhile, the long-to-shorts ratio has reached a decisive moment.

Market overview

Over the weekend Bitcoin price 0 0 lost the schedule and 4-hour behavior as it missed.


Bitcoin under 26ema and closed on $ 5,200 support.

It is hoped this is a result of low volume over the holiday weekend, but it is also noteworthy that shorts have risen and now reach a monthly height. As an analyst FilbFilb pointed out in his trade journal, the long to shorts ratio approaches 1

: 1 and over the last few Bitcoin has pulled out of explosive features in this technical setup.

BTC Longs-t0 Shorts

1-Hour Chart

BTC / USD stays in the range of $ 4900 to $ 5360, and the digital asset may begin to consolidate in the daily timeframe. In general, bitcoin remains in good order for as long as it can maintain over 12ema in the short term.

As shown in the hourly chart, the BTC price has relatively consistently close to $ 5,200 which corresponds to the 61.8% Fib retracement level and Sunday's drop below 26% was a minor cause of rebellion as BTC is already crossing over 20ma on Bollinger the tape indicator, and RSI and Stoch begin to climb into a high-rise territory.

4-Hour Chart

While there were some close calls on the $ 5,200 support, the BTC remains in ascending channel with the bull and bear volume on the decline. The stoke appears on the brink of a bull cross from the oversold region, and buyers have shown interest from $ 5,170 to $ 5,230. Handlers looking for a quick scalp can look for entries around this point and go out at $ 5,335 while longs can get closer to $ 5,200 with a break-even break.

Where do you think the Bitcoin price will go over the next 24 to 48 hours?

[Disclaimer: The views expressed in this article are not intended as investment advice. Market data is provided by Bitfinex. The charts for analysis are provided by TradingView.]

Trade Bitcoin, Litecoin and other cryptographic courses on the online Bitcoin forex broker platform evolve.markets.


Pictures of Shutterstock, Trading View. Market data obtained from Coinbase.


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