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Crypto Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
Bitcoin (CRYPTO:BTCUSD)
Crossroads (-60) - BTCUSD is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid BTCUSD?
MarketClub looks at technical strength and momentum to determine if the timing is right for BTCUSD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for BTCUSD
The long-term trend has been UP since Jan 17th, 2023 at 21470.58
The intermediate-term trend has been DOWN since Apr 14th, 2024 at 66839.19
The short-term trend has been DOWN since May 7th, 2024 at 64528.09
Smart Scan Analysis for BTCUSD
Based on our trend formula, BTCUSD is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 61650.425 | 62631.650 | 62631.650 | 62296.965 | +646.540 |
| Prev. Close | Volume | Bid | Ask | Time |
| 61650.425 | 2024-05-09 15:46:56 |