Bitcoin is trading inside an ascending channel and is approaching a very significant confluence of resistance levels at.
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Bitcoin fell from $9,500 to $8,100 on Saturday, posting a 14.6% loss in just 10 short minutes. The price has since recovered covered slightly to nearly $8,800. Source: Tradingview Following the sudden drop, liquidations of BTC perpetual swap reached $226 million on BitMEX. Source: Skew The plunge brought the digital asset’s month-long rally to a [.
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Long entry after a bullish price action reversal on the H1 time frame following the next touch of $8,968, $8,715, $8,375, or $8,162. Place the stop loss $50 below the local swing low. Move the stop.
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Bitcoin (CURRENCY:BTC) traded 2.9% lower against the US dollar during the 24-hour period ending at 8:00 AM ET on May 4th.
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