The current price of Bitcoin is $3885, with 24 hour volume leveling at 5.0 billion USD. Bitcoin has shown in a tight $400 price range between $3500-$3900 for
the past week.
Given how the market is mvoing , price action seems to be pointing in favor of the bulls. We mentioned the 3500’s in our prior update as a significant area of support, and it provided buyers with a motivated entry. In our opinion, Bitcoin looks prepped to break out above the 7-day high of $3960.
Now seems to be a good time to add to current exposure to crypto with about 50% fiat / 50% crypto weighted percentages. Look to add more on a break out and close above $3960 on a 4hr time frame or higher. A break below $3500 would signal renewed bearish pressure and would signal a return to net short positions at that time.
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