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Btc gaps down at the open—watch out for the risk of a second pullback.
This week’s open saw a gap down for Bitcoin, mainly due to comments from the yellow-haired individual. In addition, the negotiations between the US and Iran fell apart, causing crude oil to surge and Bitcoin to drop quickly, further damping the bullish sentiment that had just started to take shape.
From the current market, the 4H chart shows a falling wedge, which is a short-term top signal. So, Bitcoin will continue to face pressure today, extending the decline, and there could be quick dip-and-rebound pullbacks at any time.
As for trading, buy/enter around 71500-72000 for Bitcoin, with a target near 70000.
The situation in the Middle East changes day by day—everyone, please watch the risks!