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Bitcoin Overextended? We look to Sell at 45798 (stop at 47047)
Technical analysis
Bitcoin - Intraday - We look to Sell at 45798 (stop at 47047)
Daily signals are mildly bearish. We are trading at overbought extremes. Early optimism is likely to lead to gains although extended attempts higher are expected to fail. Preferred trade is to sell into rallies. 45850 has been pivotal. A higher correction is expected.
Our profit targets will be 42707 and 41807
Resistance: 45500 / 46500 / 48000
Support: 44000 / 43000 / 42000
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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.