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This is not the first time I look into Bitcoin's long-term price action in phases. It is something that has proven to be very effective in the past and I have attached results of previous work at the end of this study.
Gold Bulls have failed repeatedly at the 1745 area. However, bulls are still strong because all the drops below 1700 are being bought and supported by the Bulls. So, this is a minor set-back for the Bulls.