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What the hell
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Long positions on the first hand
Yesterday, after taking profits on Bitcoin and Ethereum long positions, I haven't participated in short-term trading.
Today, after Bitcoin and Ethereum closed their daily candles, both have moved above the central pivot.
This is the first time in over 20 days.
Within the day, Bitcoin and Ethereum have gained about 7%.
Currently, based on the 5-day moving average, Bitcoin and Ethereum still look bullish.
The 5-day moving average is about to reach a MACD reversal point either at this 5-day close or the next.
Village Chief thinks that the probability of this 5-day moving average directly sharply rising to trigger a trend reversal is not very high.
Currently, Bitcoin is near the MA23 resistance on the 2-day moving average.
So, Village Chief expects Bitcoin to consolidate here.
Next, the 5-day moving average will attempt to push higher again.