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AlanSantana
2023λ 3μ 17μΌ μ€ν 5μ 2λΆ
π ±οΈ Major Development, 1st Buy Signal Since July 2021 | BitcoinΒ
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BITMEX:XBT
Bitcoin / US Dollar Index
BitMEX
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2023λ 3μ 17μΌ μ€ν 5μ 2λΆ
This is the first "buy signal" the Renko system gives for Bitcoin on the weekly timeframe since the major bear-market.
For confirmation, the week needs to close above $24,000 which is almost a done deal.
This would confirm a change of trend, Renko-wise.
We also have a harmonics pattern and many more signals can be extracted from this chart.
We have a long-term higher low when comparing June 2022 to October 2020.
If we were to activate some indicators, the bullish reversal signals would show up in large quantities.
A change of trend doesn't mean that Bitcoin must necessarily go up but if you use the Renko system it would mean "buy".
βοΈ Each time you get a green brick = buy.
βοΈ Each time you get a red brick = sell.
That's the Renko strategy simplified.
Looking at past history you can see how successful this system can be.
Very simple... It can be used with other charts as well.
It is a great tool for trend change confirmation, for long-term traders and can also be used on shorter timeframes.
Namaste.
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2023λ 3μ 20μΌ μ€μ 7μ 13λΆ
This is how the Renko chart is now looking, weekly and daily.
Weekly:
Daily:
Zooming in on the daily, it is extremely easy to spot the iH&S and a strong bullish bias:
Trend Analysis
Chart Patterns
Harmonic Patterns
Bitcoin (Cryptocurrency)
xbt
BTC
BTCUSD
crypto
Cryptocurrency
renko
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SwallowPremium
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2023λ 3μ 17μΌ μ€ν 11μ 11λΆ
Great insight, keep them coming!
k1358
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2023λ 3μ 17μΌ μ€ν 6μ 59λΆ
please analysis of vgxcoin
AlanSantana
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2023λ 3μ 17μΌ μ€ν 8μ 10λΆ
@k1358
, There is a trade idea to request analysis.
k1358
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2023λ 3μ 17μΌ μ€ν 6μ 59λΆ
hi
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