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In the analysis posted yesterday and titled Bitcoin Bear Returns Below $12,000 we stated that “Shorter term $9,500 is the price target”. No sooner said than done the low has been recorded at $9,388. It is now time for a corrective bounce that should take shape in the next 24 hours when the MACD reaches into the blue area, which corresponds to the $9,200 price level give or take some leeway. Shorter time frames should help capturing the low more precisely where we will be looking to open a long trading position.

1 Comment

  1. The bounce did take Bitcoin to $10,100 before the bear market resumed. Staying put for now.

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