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Low_Pro
Jun 5, 2014 7:49 PM

Bearish Divergence. Daily Overbought. Heavy Resistance.  Short

Bitcoin / DollarBitfinex

Description

Bearish Divergence. Daily Overbought. Heavy Resistance. OBV down-ticks.

Long targets of 550-600

Longterm Bull market
Mid-term Bull Market

Short term ? Highly Likely Bear market.

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Comments
MoonTrader
Am I missing something? BTC only retraced about 10-12% during the same period of the last recovery phase. If it follows a similar pattern this time, which I think it will, then it shouldn't go below $600. A retrace to $550 would be larger than the retrace during the last bull market/recovery phase before the last bubble.
primaindustria
I large retrace is way overdue imo. China is nutzo though. Will be keeping an eye on this. Thanks L!
primaindustria
A*
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