Bitcoin finally caught a significant bid as we have been in the doldrums for some time. We are at $54.3K, which is about the .786 Fibonacci retracement level of our ABCD pattern. So if you entered a swing trade off this signal it may be a good time to take profits. We are seeing some resistance here and could easily retrace back to to $50.8K. If momentum continues, the next level of resistance is $55.7K and then we are back to highs.
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