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3.27 Old Money Morning Strategy
Bitcoin
The overall trend at higher levels remains dominated by sideways and bearish movements. Currently, watch the resistance around 69,500 and support around 68,000 to 67,500.
The last time we discussed the 4-hour range, with support near 69,000 and resistance near 71,500. The pattern also resembles a head and shoulders bottom, with a false breakout to around 72,000. The current 4-hour chart clearly shows an M-shaped decline pattern, with previous support now acting as resistance around 69,500.
The 15-minute chart shows a clear M-shaped decline pattern.
Trading suggestion: Enter around the current price of 69,100 👇, with a target near 68,100.
Safety stop loss approximately 600 points.