jminami3
Long

BTC Correction then Bullish

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We are overbought on the Schocastic and are due for a correction on the weekly. The price of BTC is approaching the 50 weekly MA which lines up around 5,700 where BTC has seen a lot of previous support and resistance . I believe there is a good chance we bounce off the 50 weekly and retest support at the 200 weekly MA before gaining the momentum to break 6,000
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