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Bitcoin Outlook and the stony Way to the 100K Zone

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Bitcoin Skyrocket

The bitcoin price is now trading above the 60K mark and is finally leaving this zone behind. The time to refuel new strength is getting bigger and bigger, so it looks. After a Skyrocket this is quite normal. Here is probably the same as in the stock markets, why sell as long as the prices continue to rise. From the point of view of the charts, this is also ok, because the upward trend is completely intact. Since the breakout of the Prom Queen and the PG as a trigger, the party is in full swing.

I have drawn a few resistance zones in my chart. The Fib projections serve as a basis here. As soon as several Fib levels overlap, the resistance zone in this area is larger. The way to the 100K zone is an obstacle course and this must first be overcome.

The bearish flag is well visible on the 4 hour chart and the edges here serve as a trigger for a new breakout. the 70K zone will probably be the next target on the upside and this is also where the next step will be decided. On the downside, we must first wait for a undercut from the flag. If we should see a bearish breakout, then the way to the 50K mark is possible. This mark is the last important low and a strong support that should not break.

Source: (Guidants/Godmode Trader) & JFD Broker & Binance

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Legal Disclaimer:

I am not a financial advisor nor is any content in this article presented
as financial advice. Never invest more
than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

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