BTSE

Bearish channel on a symmetry for Bitcoin

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BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is on a channel down on the 1D chart. This is a mirror image of the channel up of January and mid February. Every lower high and lower low of the channel down is symmetrical to the higher high and higher low of the channel up.

At the same time the RSI is on an arc pattern, which further enhances this symmetry. If this pattern holds then Bitcoin may target 6870 next.

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