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Mr_Fu
Jun 7, 2018 3:10 PM

BTCUSD Daily Chart showing Consolidation 

Bitcoin / United States DollarCoinbase

Description

Greetings all,
First time posting analysis so feedback is appreciated. May showed a distinct downward channel pattern that finally broke at the beginning of June. The current upward trending channel is set to run into a large resistance that defines the overall consolidation around June 20th. From that point BTCUSD will break the current channel and continue to consolidate until mid July. At this point I do not feel that there is enough information available to determine what will happen at the conclusion of this consolidation. What are your thoughts and why?
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