Hi guys, I hope that you had a great weekend.๐ฅณ
โ
Bitcoin seems to have managed to break the Important Resistance line (at least temporarily) and is currently completing a pullback to this line.
๐Currently, Bitcoin is moving near the ๐ขSupport zone($27,100-$27,040)๐ขand SMA(100).
๐In terms of classic technical analysis, it seems that Bitcoin has succeeded in forming a Bullish Flag Pattern.
๐The structure of the waves inside the Flag is the Double Three Correction(WXY) type.
๐I expect Bitcoin to rise toward the ๐ดResistance zone($27,600-$27,300)๐ด after breaking the upper line of the descending channel.
โ๏ธNoteโ๏ธ: if Bitcoin goes below the ๐ขSupport zone($27,100-$27,060)๐ข we have to expect that Bitcoin will go down more.
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๐โPositive Newsโ๐:
In general, October has been a good month for cryptocurrencies.
๐โNegative Newsโ๐:
New U.S. Bill Proposes Enhanced Oversight for Cryptocurrency Transactions
Gemini Crypto Exchange Exits Dutch Market.
Major Exchange Experienced $116 Million in Outflow in Ethereum, Bitcoin, and USDT.
Fornite Developer Cuts 16% of Workforce Amid Metaverse Revenue Shortfall.
SEC Files Lawsuit Against FTX Auditor.
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Bitcoin Analyze ( BTCUSDT ), 15-minute time frame โฐ.
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