Bitcoin saw a breakout out of the , after we perfectly hit the buying targets of the algos around the $7300 region.
After a 40%+ pup we experienced a small dip, consolidation and now a dump.
There are many ways how you can trade this and all lead to one result. A price increase.
-Buy at the 8.4k region (+ 8.2k and 8.5k)
-Buy at 7.6-7.8k (not confirmed to hit)
8.4k is a major region of support, a lot of algos will long there and shorting algos will be taking their profits there.
Because this is such a strong region, I would definitely advice to long there. To confirm the possible bottom we would need a big spike and in the best case a . No matter what, Bitcoin is preparing to move to the larger targets to the upside.
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Published at Sat, 09 Nov 2019 00:20:23 +0000