Bitcoin has shown a strong upward trend but has been met with rejection each time. This is generally referred to as a weak view. This indicates the need for a bottom formation within an upward trend. In other words, Bitcoin needs to find a new deep level before it can continue its upward trend. The new deep level is $56,000 at least.
Note
Trade closed manually
I decided to close my short position that I opened at 62920 (60924 now) due to Bitcoin's strong stance. It's still holding much stronger than I thought!
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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.