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The Bitcoin price has been trading within a flag pattern all week, and right now, the price is ready to make a massive move in the coming days! In this article, we will be talking about the levels to watch and how to take advantage of this coming move.
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Key Levels To Watch
Bitcoin is currently trading at the tip of the flag pattern. This means we can expect the Bitcoin price to make a massive breakout to the upside or the downside soon!
And in this section, we will be talking about the key levels to keep an eye on for both the bullish and bearish price scenarios.
Bullish Price prediction
For a bullish price prediction, we want to see the Bitcoin price break above the $40,832 resistance. A break above this key level would be a very strong confirmation of our bullish bias and increases the chance for us to see a further rally in price in the coming days.
Bearish Price Prediction
For the Bitcoin bearish prediction, the key level we are watching is the $33,846 key support. As far as the Bitcoin price continues to trade above this level, the bulls are still in the market.
However, a break below it confirms our bearish bias in Bitcoin and increases the chance we might see Bitcoin resume its bearish trend in the coming days.
Bitcoin is trading between two key levels. As far as price remains within this channel these levels have created, we want to stand aside and wait. But that wait might not belong at all. Bitcoin showing signs that it might ready to make that massive move soon.
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