We still see Bitcoin moving lower towards support at around $8500 and are encouraged that the cryptocurrency hasn't risen on the back of the sell off in equities as it can be seen as some form of safe haven. Therefore we will hold our short view as the market develops and will not go long until Bitcoin has consolidated above the $10,000 psychological level.
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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.