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Risk-Off Cooling: Bitcoin Consolidates Above USD 80,000 Support

BTCUSD pared some of its gains as demand for riskier assets decreased.  It reaches an intraday low of $80475 and is currently trading at roughly $80685.

Technicals

CMP -$80495

Trend

4- Hour chart

Value

 

 

55 EMA

$80329

CMP>55 EMA

Bullish

200- EMA

$7722

CMP >200- EMA

Bullish

365- EMA

$75714

CMP>365 EMA

Bullish

 Major support- $76000/ $74800/$74000/$73290/$70000.Minor bullishness only above $83000. Any break above targets $85890/$90000.

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bullish

103.02

ADX

Neutral

 

It is good to buy on dips around $80000 with SL around $76000 for a TP of $90000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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