However, the $265 level is NOT a multi-timeframe support. The Daily is still in a Wave pattern. The retracement from the last major move up to $315 in July could still experience a downside to the $238/$248 range and remain long term.
If the current retracement turns completely then Bitcoin will retest the $205 “Do or Die” that it has held through 2015. This level is highly significant as it is the starting point for the massive bubble run up to $1150 back in 2013. Violating this level could spell the death of the Bitcoin bulls (the Mooninites)
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