RATE Group | Bitcoin – Holding Above LT S/R Zone For Now
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Bitcoin – Holding Above LT S/R Zone For Now

18 Feb Bitcoin – Holding Above LT S/R Zone For Now

Posted at 19:45h in Bitcoin News by

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Price Action Context

After a long-term corrective pullback into the key support around 6500$, buyers came back mid-December last year and have since pushed price 3500$ higher, clearing a LT S/R zone in the process.

Trending Analysis

Our long-term bias on Bitcoin is bullish and if this long-term S/R zone holds as support, further upside is likely. A strong daily break and close below 9000$ on the other hand would open up for a potential move down towards 6500$-7500$ again.

Long-Term Key Support & Resistance Zones

R: 13000 – 13900
S: 9050 – 9750

 

 

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