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Bitcoin Technical Analysis: Explosive Upside Move Possible

BITCOIN: Another PUMP Coming?
BITCOIN: Another PUMP Coming?

In a recent video, Cheeky Crypto host Nick provides a technical analysis of Bitcoin (BTC) on the 1-hour, 1-day, and 1-week timeframes. He uses Binance as the data source for BTC due to its high trading volume.

Technical Analysis

BTC is still within a triangle pattern, and Nick believes that the E-wave is the one to catch for a long position, offering an explosive move to the upside. However, he also mentions that there are multiple approaches to trading, and that traders can wait for a better risk-reward ratio before entering a position.

Trading Platforms

Nick’s preferred platform for leverage positions is Bitget. He also discusses fair value gaps and CME gaps in the market.

Price Predictions

Nick expects a potential healthy correction to around $20,000 for BTC. However, he is also cautiously optimistic due to the possibility of a bear trap. He also expresses concerns about the low trading volume despite price increases, suggesting possible market manipulation and liquidation of retail investors.

Daily and Macro Outlook

The daily and macro outlook indicates potential corrections for BTC. Nick encourages viewers to like, subscribe, and turn on notifications for updates.

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