Bitcoin BTC Analysis thread

Bitcoin dancing on the daily 200EMA, would like to see it move either side for a tronger bias

It`s better to use 200 SMA on daily. :wink:

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Looks like ive mistaken the threads so heres my latest analysis:

The People’s Bank of China (PBoC) announced tougher measures on crypto trading that, for the first time, makes illegal crypto-related transactions, including services provided by off-shore crypto exchanges.

The Sept. 24 notice bans banks and other financial institutions from offering services related to crypto, including transactions of fiat to crypto currencies, or from one crypto to another. Anyone facilitating trades is subject to legal prosecution, including those individuals who live inside China but work for off-shore crypto exchanges that provide service to China.

Seen this i dont think it is anything to worry about as they are a highly regulated state and i dont think it suits their agenda. The amount of positive adaption far outweighs this

China bans Bitcoin every year lol

Yeah, it’s quite a common occurrence :grinning:

Great to see early comments in this thread versus what BTC has achieved this year, peaking at $60K.

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Why your preference for the SMA?

It feels like China bans Bitcoin Crypto in general at least once a year :sweat_smile:

Why not. I`m using SMA and EMA but depending from the different factors like TF in example.

Is that an ATH I see?

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It is indeed, and I expect we will see another by the end of the year.

Or Q1 2022.

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Making a strong play, but could double top here although I know a lot will be hoping to see it push through.

BTC is trading more and more like fiat all the time.

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i feel every one is looking for the bull run right up to Christmas’s lots out there looking at the 100k area or ATH in December at least. this could be a great opportunity for bigger players to short the pair and drop it hard just like we seen with game stop and then rally it all the way up

At the moment, it is the Bear dominating in the daily chart. However, I assume the price may find its support around 51600.00 area and the Bull may dominate in Bitcoin again. December is usually a quiet month. Thus, we may have to wait a bit longer for that bull run.

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I can see that too, it is only natural for the market to move into retracements as well as impulses. I think the long term bias is good as it hasnt broken market structure either

Bear dominating? :face_with_raised_eyebrow: