Bitcoin

BTCUSD waiting for NFP report

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Bitcoin price pulled back from its October high of $20,500 yesterday and is now trying to hold in the $20,000 zone ahead of the NFP report. Depending on the report, so will the price of Bitcoin. We need further negative consolidation and continued price pullback for a bearish option. Potential lower targets are $19,500 and $19,000 support levels. For a bullish option, we need a new positive consolidation and a return to the upper resistance zone around the $20500 level. Then we need to try to maintain ourselves up there so that we can find the strength to move out of the uncomfortable zone with a new bullish impulse. We need to move to a higher movement zone of $20500-21000. Only then could the price advance and climb to higher levels on the chart.

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