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Bitcoin to Retest 40k? We look to Sell at 40626 (stop at 41591)
Technical analysis
Bitcoin - Intraday - We look to Sell at 40626 (stop at 41591)
We are trading at oversold extremes. There is no clear indication that the downward move is coming to an end. Previous support at 40500 now becomes resistance. Preferred trade is to sell into rallies. 20 4hour EMA is at 41000.
Our profit targets will be 37450 and 37100
Resistance: 39000 / 40000 / 40500
Support: 38200 / 37700 / 37000
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Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.