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Why One Trader is Waiting for $20,000 Before Jumping Back into Bitcoin

Bitcoin’s price is rapidly navigating back up towards its all-time highs. This comes after the crypto faced some immense turbulence throughout the past week

Each rejection at roughly $19,800 has had far-reaching implications for the cryptocurrency, but it has been able to set higher-lows

This is a bullish sign that suggests the selling pressure at this price level is beginning to degrade

Where it trends in the mid-term may depend largely on how strong the rejection at this level is – assuming there is one

One trader, however, is now noting that he is not adding any BTC exposure here, and would rather wait for a test of $20,000