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BTCUSD technical analysis – 11 june 2020
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BTCUSD hourly chart analysis
The H1 chart should be used for short term trading position entry and exit
H1 clearly shows the bounce-off from the 10000 figure
The price has retraced to a decent support level around the 9000 level
We need to see how the price reacts to the current price range to understand the longer term direction
BTCUSD four hourly analysis
The price is ranging between the main H4 support and resistance
Expect the price to go and challenge the lower support levels around 8500 given the strong resistance
BTCUSD daily analysis
At the D1 timeframe, the 100% fibbonaci retracement is now done
We should now expect a retracement to the 61% level potentially