Ranging and a continuing downtrend are on the menu for Bitcoin, warns MI_Algos.
showed BTC/USD climbing toward $38,000 on Monday, reversing a correction which set in immediately after Sunday's weekly close.
With stocks giving some relief to bulls, many analysts remained hands-off on Bitcoin while higher levels nearer $40,000 remained unchallenged. "Bitcoin chopping around and fighting resistance, while the volume remains low overall," Cointelegraph contributor Michaël van de Poppe"As stated, sub $38.5K not that much interested in any long entries, unless higher timeframe bullish divergences play out. $37.5K is a first minimal step.""I think you can likely bid 33-36k. And scale in And see yearly open on BTC in February.
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