We can see new magnet level at $12080, which pulls the price to itself. This upward movement will be a correction of 13k rally, after which the price might fall down again. The power of a magnet level can be spread up to $12475, this point is the strongest local resistance right now. Unlike $12080, $12475 level tends to get wider as the price comes closer.
If this point won't make other resistances and the price will surpass it, we will see a new pump. If we see only winks in red zone, the market will dump further. The same appeals to magnet level. Targets of downward movement are in the $9500 - $10700 zone, where we'll probably see another upward correction.
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If this point won't make other resistances and the price will surpass it, we will see a new pump. If we see only winks in red zone, the market will dump further. The same appeals to magnet level. Targets of downward movement are in the $9500 - $10700 zone, where we'll probably see another upward correction.
If you found this idea interesting, do not forget to Like it and subscribe to the profile, so as not to miss our updates!
Comment:
The most interesting things there are borders of the flat-channel. The strong resistance is located at the level $11640, while the strong support is located at the $10700 level. You have two trading options: firstly you can trade inside the channel and secondly you can trade the breakout of one. Therefore, if the price breaks either support or resistance and take hold there - the next movement will have the same direction.
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