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tengis0621

Broke trendline

Short
Bitcoin (BITSTAMP:BTCUSD)  
tengis0621 Updated   
BITSTAMP:BTCUSD   Bitcoin
Chart Patterns Trend Analysis
6
1
chartpattern trendanalysis
Could see downside at least 42k as it just broke down major trendline. Seeing a bearish divergence as price going in upper direction while rsi going down. Watching closely on how RSI would react around 50levels.
Comment:
RSI needs to bounce off from 53 to continue upper movement
Comment:
Bitcoin consolidating for some time between 56 - 59k range. I'm still for RSI to break down or bounce off from 53 range and break above 62k then 68k is a probably a next target. Otherwise, we could see downside anywhere from 50 -42k level.

Bullish Scenario: More institution or big companies like(Apple or Walmart) buying bitcoin.

Bearish Scenario: Tax sell off probably between mid April to May
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