Here I demonstrated that the institutional investors accumulated their Bitcoin positions in the range $43-$50k. The are “big” money and require the ranges to accumulate more Bitcoin. I told you that the $44k (Monthly S2) will be reached again before the price growth. But here we have 2 scenarios.
The most preferable scenario is the relief rally to Supply Zone ($53000). It allows us to close the positions which we opened during this crash. Another scenario is the relief rally to the Monthly S1 ($50000) and another crash to lower band of range. In my opinion $53000 is a great level for short/sell, $44000 is a nice level for buying.
Bitcoin – price range is expected
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