Bitcoin - Strong Possibility of Upward Breakout
We are encouraged that Bitcoin has stabilised at the current level and is edging upwards towards the key resistance level at $12227 which leads us to believe that prices could breakout in the next few days towards $13000. This is because of increased geopolitical tensions and Bitcoin increasingly being seen as a safe haven as it is seen a store of value and is quite scarce. Therefore we will hold our long position but would not want to see the market start falling below $11000.
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