Bitcoin

BTCUSD local view

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We are in wave A5 from a global view. It has a five-wave structure. Now there is the fourth corrective wave. At the end of the large movement, most of the market participants are in short positions, because of this, the fourth wave was delayed and now forms either a flag or a pennant/triangle to set the desired position. We consider the opening of a short position from the zone 7200-7500 with targets to the zone of strong resistance 5000-6000.

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