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Bitcoin falling out of bear flag
Bitcoin BTCUSD looks to have just started a trend out of a bear flag and heading down. It looks like it has slightly broken out of a channel similar to ETH and LTC to get into this flag, for which ETH and LTC are already at the top of their channel and likely headed down as BTC goes down. My guess is we will hit a bounce at the top of this former channel BTC was in (51K, which is also a Fibonacci retrace) after which it will rejoin it brethren coins into the channel, and potentially head down bounding off of moving averages.
BTCUSD looks to have just started a trend out of a bear flag and heading down. It looks like it has slightly broken out of a channel similar to ETH and LTC to get into this flag, for which ETH and LTC are already at the top of their channel and likely headed down as BTC goes down. My guess is we will hit a bounce at the top of this former channel BTC was in (51K, which is also a Fibonacci retrace) after which it will rejoin it brethren coins into the channel, and potentially head down bounding off of moving averages.
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