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DrJLT
Jun 5, 2018 6:28 PM

Bitcoin continuation Short

BITFINEX:BTCUSD1D
Bitcoin / DollarBitfinex

Description

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Good pump with low volume today.

Why did it bounce? Could it be EOS-related speculation?

Bitcoin is forming an ascending channel pattern which likely leads to more drops.

50W SMA remains a resistance.

I still think 2.5k is a likely target eventually (with bull runs in between).

Of course, a big pump with volume could drive the market early into bull mode, but I think 8.5k could be the maximum in that unlikely case.

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Was btfx hacked yesterday right before the pump?

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reached the point on the chart. will it go down?

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dropping tomorrow?

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will it reach the 5.2k target or just miss it?

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Trend AnalysisWave AnalysisTechnical Indicators
Comments
basebeef
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super fucking on point my man!
UnknownUnicorn3062184
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I actually think 1.2k as final target. main supports where it should bounce enough are 4.8/5k, 3k, 1.8k and finally 1.2k
DrJLT
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@captainx, I have a long-term view. Yes, we may touch 1.2k briefly

CryptoSwindle
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@captainx, 3 digits when the ponzi collapses, if human history keeps repeating itself, my bet is that it will happen again. This time is not different.
INVICTRA
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OMG O_O
severt
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Somewhere tomorrow there will be a deathcross on the 1 hr. Based on previous behaviour I calculated the downtrend to about 6.2k. And that's exactly where my calculated EW count ended also.
BossBalla303
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lol
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