This is my Bitcoin view heading into early New Year and the key levels I'll be watching.
While we are in the range between the two key levels 6400 and 7800, don't hold positions and don't expect trades to go far.
A break and hold above 7800 opens up 8,800 and 10,200.
A break and hold below 6400 opens up 5000.
To the uninitiated, yesterday's Oil chart looked like complete chaos as we approached Crude Oil Inventories and the CAD rate decision.
However there is order within these fast, volatile moves.
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Key Price Pivot Zone here at 9400 - the market has used this level as a key inflection point and is currently holding below.
We may get a pullback and then if the market can hold for some time above this 9400 level, a retest and move back up to 13,500 is likely.