BTC has been rallying, although many believes that the rally is a ''fake bull'' move. I think we should take a look at BTC chart in LOG scale rather than LINEAR scale. Right now we can see BTC is struggling to break up the major RES for new high ( highlighted in green box ).
However, taking a look at the HL HH HL HH structure, we are might be a miss from the major support. So do expect a deep pullback to $7000 possibly before price head highers to pick up more momentum.
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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.