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BTCUSD: Bullish if it closes over the 1D MA50.

Bitcoin is crossing over the 1D MA50, negating the previous bearish trend, by turning the 1D technical outlook neutral (RSI = 54.571, MACD = -301.200, ADX = 35.239). If the 1D candle closes over the 1D MA50, then we expect a bullish breakout like the one on June 20th 2023, which hit the previous High of the Channel Up (R1 level). Consequently we will go long if that 1D candle closing condition is fulfilled and target the R1 level again (TP = 49000).

See how our prior idea has worked out:

BTCUSD: 31k broke after 101 days! Is 32k next?

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