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Friday, November 4, 2022

BTCUSD Potential for Bullish Momentum | 4th November 2022

BTCUSD Potential for Bullish Momentum | 4th November 2022

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

The overall bias for BTCUSD on the H4 chart is bullish . In addition, price is above the Ichimoku cloud , indicating a bullish market. With the price touching our buy entry at 20509.82, where two 50% Fibonacci lines are located. We intend to take profit at 21778.00, where the 78.6% Fibonacci line and -27.2% Fibonacci expansion line is located. We have a fairly safe stop loss set at 19587.77, where the 61.8% and 127.2% Fibonacci projection line is located.

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