BTC is currently holding support on the 1st arc pair - If this support is broken the price will basically tumble to the next arc down, catch brief support, and so on - Normally the 4th arc pair, marked underneath by the blue band, is the first arc that stops the price to any effect, sometimes the recovery is brief and the price drops to the 5th arc pair - Key support is the first arc pair where BTC is now, prices can recover from here - we will see
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This chart is a bear set up, looks like next one will a bull set up...BTC is kicking ass what more can you say