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BTCUSD technical analysis – 25 MAR 2020 – bigX
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BTCUSD hourly chart analysis
The H1 chart should be used for short term trading position entry and exit
We are right in the middle of the price range 8000 and 5000
This suggests a hold pattern for any existing positions as the price could move either way
The support level 5000 and 6000 could easily be challenged again
BTCUSD four hourly analysis
We have seen a bounce off support level at 1460
That support was challenged twice
We are now approaching a challenge of the resistance level at 7191
We are within a price range of 7200 – 5000
Given the market volatility, expect this to range for a short while
BTCUSD daily analysis
The daily chart reinforces the resistance price of 7200
This will then be a key challenge, which broken above will challenge 9400 again
If rejected, then the price will come back down to 5000 levels