Bitcoin is trading inside a Channel Up pattern, which since Monday is correcting. We are already below the MA50 (4h). The previous correction found the first support on the MA200 (4h), just over the 0.5 Fib. It then broke slightly below it for the final bottom of the pattern.
Trading Plan: 1. Buy on the MA200 (4h).
Targets: 1. 71500 (just under the -0.236 Fib extension, like the October 21 High).
Tips: 1. The RSI (1d) provides the most efficient buy signal on its Rising Support trendline, which started on the August 5th Low. If its crosses below its MA, then reserve one final buy for the Rising Support.
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