Bitcoin

BTC Testing Resistance

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An update to an earlier analysis on BTC. We are right up against the major resistance now dating back to end of June on the daily chart. Watching for a breakout later today as an entry point for longs. If the resistance test fails then it could quickly turn to a short and there would be potential for a significant price drop within the range of the descending channel. This could be compounded if the price were to drop below key price levels for mining operations.

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