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Caution before BTC’s price swings lower
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD tapping $37,960 on Bitstamp before rebounding.

Still trading 3.7% lower on the day, the pair had come off local highs above $42,500 on the weekend amid concerns over regulatory moves from the United States this week.

As Cointelegraph reported, analysts were already hoping that a correction would take Bitcoin several thousand dollars lower in order to create a pattern of higher lows, from which it could continue its upside.

The target zone, lying around $36,000, was now key to hold in order to prevent what trader Pentoshi called “worst case scenarios.”

“Deviations wrecking those people who don’t plan for them,” he warned Twitter followers alongside a chart showing key price levels.

“I’ll bid on range high reclaim OR in the grey box for a HL. If we fall below the mid range and start closing below then you need to plan for some worst case scenarios. These are my only two triggers for a long (at the moment).”

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