Short story only today, in bullet points:
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- Four attempts to break the 40k failed, buyers noticed strong support and started to overbid each other.
- Local reversal activated with the last green dildo.
- Minor local resistance at 43.5k, shouldn't be a biggy to grind through, but could mean lower prices if bulls are rejected.
- Major confluence area at around 45k, where a strong resistance, strong downtrend and 200MA (not shown) come together.
- It's likely that bitcoin will trade lower and that buyers aren't pressured to break the resistance. Yet.
- Long position might be considered after 45k is broken. Bigger risk appetites might consider longing beyond 43.5 (mind your RRR).
- Short position (usually a bad idea with crypto) might be considered from 45k
- Not financial advice, duh.
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