Hi Everyone! Looks like continued downward pressure a while that could push us down to within proximity of the Yellow B-Band Basis in the 4-Day Time Frame. I would be surprised if we fall within proximity of the Yellow B-Band Basis during the current 4-Day Candle. The "odds" are likely higher to fall within proximity of the Yellow B-Band Basis in the 4-Day time frame during the NEXT 4-Day Candle. At which point, the Yellow B-Band Basis will be almost dead even with the 0.618 FIB Retrace Level of approximately $40,300. I'll post a 4-Day chart shortly with the FIB Retrace Levels.
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Daily Time Frame:
Daily Time Frame:
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Downward pressure may continue until mid March, 2021.
Downward pressure may continue until mid March, 2021.
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UPDATE:
REMINDER: This is a NEAR to MID TERM ANALYSIS. This is NOT a Short Term or Scalping analysis.
REMINDER: This is a NEAR to MID TERM ANALYSIS. This is NOT a Short Term or Scalping analysis.
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UPDATE:
BTCUSD: Be Cautious Opening a Margin Long From Here. Here's WHY
BTCUSD: Be Cautious Opening a Margin Long From Here. Here's WHY
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UPDATE:
Be mindful of what could be brewing up in the 3-Day time frame in the near future.
Be mindful of what could be brewing up in the 3-Day time frame in the near future.
4-Day Time Frame with FIB Retrace Levels: