There are multiple confluences around the $42.5K level, which are:
1) 61.8 fibonacci
2) Previous Structure
3) -27 fibonacci of the ABC corrective wave
4) 200EMA Support
5) Major trendline support
A lot of confluences, which would make the $42.5K area the best place to watch to buy Bitcoin .
An important thing to note is that we are currently testing the weekly 21EMA, which we might reject here and move up.
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