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4.8 Wednesday Morning Market Analysis
In the early hours, after Bitcoin pulled back to 67,788 and found support, it rebounded strongly, reaching a peak of 72,700. The current price is holding above 71,500. In the short term, it has surged by over 4,700 points. The bulls are in control, and the main uptrend wave has begun.
Technically, the moving averages are arranged in a bullish order, with a golden cross supporting the downside and forming a base. The coin price is trading above the moving averages, and a pullback to the moving averages is an opportunity for going long on dips.
Trading Suggestions
Buy in batches on pullbacks of 71,000-71,500, with targets at 73,000-74,000. If it breaks out, look for 75,000.
$BTC