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mccoelhofr
Jul 18, 2021 9:34 AM

BTCUSD - path to least resistance is down Short

Bitcoin / U.S. dollarBitstamp

Description

On this chart 4H, Previous support turned into resistance. Price rejected by Upper band of Keltner channel + EMA 50 + VPVR. Today is also unlock date of GBTC. According to WhaleAlert, Huge amounts of BTC and ETH have been sent to exchange which is not good as well. On daily chart, price still painting a descending triangle. Next target 24k and 20k before resuming uptrend. Could be short lived bearish action but it is not THE bear market. End of year will break ATH still. Take care in your trading
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