Art_of_Trading

BITCOIN (BTC) Price Action Analysis

Long
BITFINEX:BTCUSD   Bitcoin
There is an interesting setup on H1 BTC chart. The price is going down last few hours and reached the previous resistance level, that acts as a support after the breakout at 8600 area. The buying orders are most likely placed there, that will push the price up. However, the best approach here is to wait for the market to backtest the area. In other words, the bullish bar should be closed to confirm that there are enough buyers.
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