Bitcoin has been in a trading range all month. But the lower level of the range, which acted as support, could not withstand the sellers' onslaught. As a result, we got a strong decrease of the whole market.
In previous ideas, we noted that bitcoin constantly made re-low its lows.
All in all, this scenario almost came to fruition. But there are two key levels, 42K and 39.6K, where a lot of liquidity is concentrated and where the price is likely to go. A false breakout of these levels would be a good buying opportunity.
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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.