Bitcoin is bouncing off the supportÂ
Bitcoin has pulled back to test the uptrend line support in the broadening wedge formation 42000. A bounce off this level is holding and we have a confirmation of the upside continuation ongoing now. A break above 50000 would indicate that the downside correction is over. As long as the Bitcoin is above 42000 the uptrend is valid and you should target 57000. We could experience a period of consolidation with support around 46500 if we will not have an immediate break above 50000 today.
Note – Look for the buying positions with protection set at 45500
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