The Bitcoin price is moving in the same manner as it did a month ago. Depending on line placement it is currently moving within an ascending or flag.
Price, and are moving in a similar fashion as it did a month ago, right before we saw a short term reversal. If the price continues to mirror its previous moves we can expect it to break down within the next 12-24 hours.
I must note is higher this time around and is slightly higher bought. We also have to factor in news, trader emotion and market sentiment, so a mirror in trend and indicator values is not a definitive guarantee we will see the same outcome as before. I advice short term traders to stay vigilant and set close alerts for monitoring of breaks in trend and support / resistance lines.
"Good" scenario targets / resistance zones:
Short term / day(s): 7500, 8000 euro
Mid term / week(s): 9400 euro
"Bad" scenario targets / support zones:
Short term / day(s): 6800, 6300 euro
Mid term / week(s): 5500, 5250 euro
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