Short

BTC FAILED BREAKOUT SHORT

Updated

Bitcoin price is lingering near the important and super strong resistance area of around 10.000. The latest breakout attempt was clearly rejected and the price has returned into the flag/triangle formation it was trading in.

All of the above give us grounds to be expecting a pullback from the highs to retest the flag's support.
The yellow area is the target zone.

If the support gets broken, then we might see an even stronger impulse downwards. If it holds, we might see another breakout attempt.

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Wish you all the best of luck in your trading!

Note

There is also an unbroken uptrend line there, so it might be so that the pullback bounces off this support at a level of 9045. And if it does not, then the move down is more likely to continues past the triangle support line.

Note

good trade!

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