2023-05-21 02:18:21
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Market and Bitcoin Update:
Medium Time Frame (MTF) - 4 hours:
Looking at the four-hour chart, BPRO momentum ranges provide detailed insights into Bitcoin's price evolution.
Recently, we've witnessed a shift from a downward trend to a sideways one, with momentum ranges swinging horizontally. This suggests that Bitcoin is trading within a defined range between $26,000 and $27,800.
Since March, Bitcoin has continued moving sideways and is likely to continue within this range unless there's a significant breakout above $28,000 or below $26,000.
Currently, Bitcoin is expected to trade around $27,000 with a high likelihood of random fluctuations and side noise.
However, there's an emergence of two types of modified fake break patterns at the lowest local volatility levels, strongly backed by a 91% strength BPRO Divergence Alert system. This could signal the potential for a short-term recovery towards the upper range area, near $28,000.
https://www.tradingview.com/x/XOVU7kYP/
@RosePaid
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