Bitcoin may complete the correction soon and be ready to challenge the resistance: 8450 - 8550 I will buy the breakout of the falling trendline. Let us go to challenge 8500.
Symbol: BTCUSD Timeframes: 15M - 12H
Indicator: 9 Seasons Rainbow Multi TimeFrames Pattern Signals: Short term ribbons: Blue * 2 in 15M and 22M; If Blue becomes Purple, the support is broken. Medium term ribbons: Light Green, Green Long term ribbons: Still Red - We are in a Big Bear Trend -- Don't forget that, If the resistance is still tough, don't hesitate to close the position.
T1 8500 T2 8600 Stop 8280
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Thade Not active: The descending triangle is broken downward to test lower support. Blue in 15m turns purple, indicates the broken of the support.
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If it breaks the falling trend line and stay above it, the set up still valid.
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Trade Active, The trendline is broken, First Ribbon turns Green.
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Entry: 8250 Stop: 8170 T1:8500 T2:8600
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Position Close Breakeven at 8300 The Retest was weak, a LH was formed. Bitcoin could look for support on lower level than 8200.