Bitcoin (BTC) Tops $64K. Here’s Why Traders Should Still Be Worried

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Bitcoin is not out of the woods yet despite massive gains

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For now, Bitcoin is still below the cloud, which is currently acting as a key resistance level for the leading cryptocurrency. Olszewicz has suggested combining the Ichimoku Cloud indicator with the inverse head and shoulders indicator to see whether or not the current bullish momentum is actually strong enough to reverse the persistent bearish trend and turn the cloud green. The flagship cryptocurrency was on the brink due to macro-financial concerns as well as Bitcoin ETF outflows.

 

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