That clue tells us that market movers are not interested in driving price up just yet. This means they are likely waiting to buy Bitcoin at a price they feel comfortable with. Since the 6000 has remained formidable over the past few months and every whale wants a bite of the meat before another, we know that the is likely near the 6100 - 6200 range. More often than not, a strong reversal candle would be spotted when price hits a and we should therefore expect no less when price moves into the current .
Given that various indicators are concluding that Bitcoin is oversold, this would likely be your last chance to buy Bitcoin at such a bargain price so don't miss it.
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Good luck and happy trading!
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