Recently, BTC broke through the diagonal resistance where it had been rejected before. Now this trendline works as a solid support while the other trendline is still in play. Therefore, we have established a strong support at 6.8k with many buyers in this region. I can see us testing the 8k which aligns with the 100MA and the 0.62 fib. Still, most people here are extremely bearish on the price expecting to buy back in at 3k-5k. Usually, the price tends to take the less traveled road stopping out all the shorties in this case.
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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.