Today's Tweezers Results in Bitcoin Lower High
The candle has not yet closed but this type of price action typically would result in an increased likelihood of a movement to the downside, especially if the price can close as it is currently forming. The closest level is resistance at $3902 and I will seek to enter a short position at $3901.
If the position is entered successfully, a stop loss will be placed at $3950, slightly above yesterdays close. Profit target will be $3840, just above the FTA at $3831.
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