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Bottom formation (Inverted H&S) suggests rally higher

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
After breaking below $6800 major support level , BTCUSD has started to stabilize and show signs of bottoming with accumulation. Inverted Head & Shoulders formation suggests that buyers are slowly stepping in and have reached an equilibrium with sellers. Look for a break above $6800 to get long with conservative targets at $7800 and extended targets at $10,000.

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