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Hello friends!
I have been hanging back for the past weeks and watching the market do its thing.
If you take a look at the chart above there has been a bearish divergence which is starting a downward trend.
We briefly broke above 9000 to only get rejected to 8500.
I am speculating the bounce will be $3,000.
With all this being said with the "Halving hype".
More new money is being pumped into the market which allows for more opportunity
I believe there is more blood in the streets to be had.
The unemployment rate is at a ATH in the USA.
COVID-19 is still hurting the USA economy.
The Bitcoin price runs with neck & neck with the S&P500.
I believe we will see new all time low this year before we see a pump.
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As always my charting is just speculation and is not financial advice. Please do your own research.