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BTCUSD technical analysis – 13 MAY 2020 – bigX
Disclaimer: Any information contained in this website are the intellectual ownership of bigX. If you share this information, please reference the source link at bigX at all times and include this disclaimer. The opinions, analysis, charts and pricing based in this market analysis do not constitute investment advice. This should not be relied upon as your only source of market research and should never be used for actual trading decisions. Our opinions and analysis are subject to change at any point and we will not accept liability for any losses directly or indirectly from this information. You should never use just one source of information to make trading decisions, rather you should take your time and make an informed decision based on your own research. Please note that past performance and analysis are no indicators for future results.
BTCUSD hourly chart analysis
The H1 chart should be used for short term trading position entry and exit
Based on last week’s analysis we determined that 10000 price point was near and it has now been done
It has re-traced from there to the support level around 7800
The bit-coin halving has not had a major impact on the price
Expect the price to range between 10000 and 7000
BTCUSD four hourly analysis
The price is definitely bullish
The price is getting wedged towards 10000, if we see a major break out of the wedge then we can target a higher range
That higher range could well be between 12000 and 6000
BTCUSD daily analysis
Last week’s FIB retracement chart showed how string the push up was
It went past the 61% level ad is now close to challenging the 100% level
A retracement to 61% after touching the psychological price of 10000 has been done but not clearly
The price movement is therefore recovering from a bullish trend and the bitcoin halving event – and now holding steady