Bitcoin price is soaring this week after seeing multi-month lows during the weekend. The bounce seems to be mostly technical – after breaking the key $6000 level, BITCOIN price nearly halved as $3000 was not only a psychological level (local highs from mid-2017) but also a target range of a big triangle formation. Moreover, it looks as if the bulls lost their hope during the sell-off, paving ground for a surprise recovery. It remains to be seen for how long will it last but as of now it’s the most dynamic since July. Traders may take long positions in BITCOIN if they believe in continuation of this rally or short positions if they see prices reversing lower.
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