After rising nearly 40%, bitcoin stopped at the upper end of the consolidation, which acts as very strong resistance. The price has now corrected from a high of $42,000 to $40,000.
What to do? When to buy or sell?
Right now I see two scenarios: a) A break of the local lows 39 250$ and formation of lower lows, after which it is very likely that the price could go down into the liquidity zone. b) And the second scenario, if the price goes higher, goes back to the upper level of $42,000, starts to squeeze, that would be a signal for continued upside.
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P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade