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21.09.2023 02:14 PM
Technical analysis on Bitcoin for September 21st, 2023.

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Red lines -bullish divergence

Blue line- horizontal support

Green line- resistance trend line

Bitcoin is trading around $26,730. Price as expected has bounced towards the green resistance trend line at $27,460. Price is showing rejection signs. Price has reached important short-term resistance. Bulls need to push price above $27,500 to hope for a bigger bounce higher. We warned traders on time that the bullish RSI divergence was increasing chances of a bounce. Now it is time to warn traders that as long as we trade below the green trend line, Bitcoin price remains vulnerable to new lower lows.

Summary
Urgency
Analytic
Alexandros Yfantis
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