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Bitcoin trend has reversed, and we continue to be bullish!
This week, Bitcoin has moved bullishly from around 67,000 all the way to around 73,700. You could say it’s been completely pressure-free, and each pullback hasn’t been very strong either. Today, Bitcoin fell from the high around 73,700 down to around 71,200, and it’s currently trading around 71,400.
Looking at the weekly chart, we already have two consecutive bullish sessions. The MACD bearish trend is gradually shrinking in histogram/volume, and it’s about to turn bullish. Combined with the stabilization above 70,000 and the lows continuing to move higher, the bullish situation is clear—we’ll keep our long-position mindset unchanged!
BTC reference strategy:
Go long directly around 70,500, looking for bullish upside to 73,800. If it breaks through, look for 76,000, 79,400.
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