Bitcoin is bouncing off 16000
Bitcoin is bouncing off the strong long-term 16000-17000 support zone. This bounce and sideways bullish flag formation as the instrument is getting out of the LT falling wedge could lead to a swift move higher if we get a break above 20500. Certainly, there still are liquidity issues but it seems that the final wave of these issues has thrown away weak players from the market. Technically these are the levels for the steady building of a long position.
Note: look for the long trade entries upon a break above 20500
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