BTC is forming a potential rising wedge (Yellow lines) and if it plays out then the target would be $41500 approx. Currently its facing resistance (Purple line of deseeding triangle).
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Price could not break through Purple line and it come down to test the support at the yellow rising line.
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Currently 20 EMA giving support
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Bears showing strength
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Price went through resistance (Purple line of triangle)
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Price getting support at 20 EMA therefore rising wedge channel get invalides.