Bitcoin saw a bit of a sell off or exhaustion this week but it looks like it is recovering pretty nicely, making higher highs on the 1h timeframe. we said in our previous post about bitcoin that it was not a collapse in the currency but a correction or exhaustion after a very bullish move that it had weeks before. now we have an opportunity where price has created a push past our 1h area of resistance which will now be support so we are looking for exhaustion back to this zone then an entry to previous high where there are two options to either close the trade or let it run with a trailing stop
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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.