BitcoinUpdated Bitcoin - A possible bottom in place
From the highs at 13868 Bitcoin has sold off consistently. The retracement is most likely complete forming a low at 7296. The rally from this low to 10540 is impulsive in nature ,while subsequent pullback looks corrective. Hence as long as price holds above 7296 i expect buying to get stronger in the coming weeks. A break above 10540 would strengthen the bullish case and open up 13868 as a target'. On the other hand if price takes out 7296 low ,then expect price to push lower , wreaking the bullish case
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.