Bitcoin Price Analysis: Deep Shakeout Rallies Off Strong Support
Summary:
- A deep test of support pushed the bitcoin market down $600 over the course of an hour. Ultimately, after testing weekly support, the market managed to retrace the entire drop and push a new high.
- At the moment, we are retesting macro support/resistance at $10,300 and if we can manage to close our weekly candle back above the support, it will be a strong bullish signal that we are likely in for a continuation of our uptrend.
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