SUMMARY
After the mainly bearish week, it appears we could see price finishing the week off strongly. Over the next few hours we could see price test the strength of resistance around the $7,500 level. Previously this region has created a nice support and resistance for price, aswell as the major resistance level at $7,600, the next 24hrs are very crucial if price is to push higher.
The 4hr timeframe highlights the significance of the levels around price, I believe we could see a push higher to test the $7,500 region over the next few hours, once this scenario forms it will show clarity of which direction price may follow in the short term. If price is to close above this level we will potentially see a surge towards the $7,600 region. However if price is to be rejected at $7,500 we could see price slip back down to $7,200.
That bear flag formation was so nasty, everythign tanked for a few days lol
It caused a lot of people to believe the "bull run" had began which is exactly what major market manipulators wanted before they pushed prices back down. I believe the bull run hasn't properly begun until we are trading above $10,000. Where do you see price going long term? @baglady
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