BTC:USD 4 hour chart DAILY UPDATE (day 52)

I am happy to see the price nicely following the arrow I drew on the 17th. The slow grind upwards is exactly what we want to see. That allows the pressure to build while resistance is being eaten away.

I expect that to give us the momentum needed to break through $8,400 and the 0.382 FIB level. That will likely be a key level for a lot of traders who are still waiting on the sidelines and it should also cause a lot of bears to give up.
On the other hand I do expect to see heavy resistance at $8,400. If looking to enter a position then try to enter under $8,300. If you enter long above that price then you are buying resistance.

If we break through $8,400 then the next major area of resistance is $9,000. I have still have my first profit target set at $9,950 and stop lost at $7,714

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