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Despite seeing sharp sell-offs in the crypto market yesterday, many traders used the opportunity to buy the dip, thereby resulting in Bitcoin trading above $29,000. Closing at this level this weekend will most likely lead to a false breakout in the weekly TF, with incredible upside potential.
Since Bitcoin formed a three-wave pattern (ABC), where wave A represents the buying pressure last 2020 and 2021, traders can consider long positions and work out the scenarios below:
1. Prompt a false breakdown in the weekly TF, below $25,000.
2. Bring wave "A" below $7,000.
Take profit on the breakdown of $70,000.
This plan, in general, is a medium-term investment and follows the Price Action and Stop Hunting strategies.
Good luck and have a nice day!
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.