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BTCUSD Perpetual Contract

Descending Channel

Por MarkNetley
After being bullish yesterday, Bitcoin broke the 1 hour EMA and started a down trend. I was wrong on expecting upwards movement, but correct that a 1 hour EMA break would turn me bearish. At the moment Bitcoin is stuck in a descending channel and being rejected by the EMAs above it. For the short term I would expect more down action until we break up from this channel.
Trend Lines
MarkNetley

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