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Given BTCβs rise to 9.7k and the quick drop to the 9k zone, we think another downward leg is highly possible before moving to the upside.
- Elliot Wave: 5th wave needs to be completed - RSI: Wave3 and wave5 generally form a RSI divergence ->wait for the 2nd RSI dip - Ideal entry: 8.7k-8.8k
Do you agree or disagree? All thoughts and critics are welcomed!
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BTC at a critical moment. The 2D RSI needs to move above its MAs for a continued BTC bull trend.
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Which resistance's on you chart? The blue or the pink?
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The targeted zone has been hit. BTC now remains in a bullish trend and we are currently at a level of great risk-reward setup. See the update below from both fundamental and the technical perspectives.
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After another week of side way actions, BTC is looking less bullish for the short-term.
Yes! What a dream for the bulls to be gifted another round of accumulation opportunities! Definitely time for BTC hodlers to diversify into privacy coins, although I believe many will miss this chance. ππΌποΈπ
Phi-Deltalytics
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@IamPhoenix33, totally! Many wait, then miss, then fomo... We never try to buy at the lowest points and to sell at the highest points to keep mentality straight. :)
IamPhoenix33
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@Phi-Deltalytics, I think we have similar mental game strategies ποΈ
@IamPhoenix33, which privacy coins are you looking at?
IamPhoenix33
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@Phi-Deltalytics, I'm currently holding 93% of my portfolio between XMR, DASH, BTC & ZEC. I am looking at XVG and I have a small buy order in at 39 satoshis.
I'm holding Dash mainly because I would like to see it mass adopted for payments while Bitcoin becomes perceived as a long term store of value/currency hedge (timeline now until late 2021).
I'm planning to buy a Tesla with my Monero money next year. βΎοΈππ¬
@IamPhoenix33, Do you think BTC's layer 2 solutions will help with the pmt adoption? Or it won't be significant enough and Dash and some others will dominate that piece of pie?
IamPhoenix33
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@Phi-Deltalytics, I believe that Dash is currently a superior payment option to BTC, so hopefully the market will recognise that. I'm still more bullish on Bitcoin than Dash for 2021, but I see XMR & ZEC doing well against BTC in the long term. β€οΈ