Here are some bearish factors? 1).We had a pi cycle top on 26 October.
2).We have continually failed to break the linear regression trendline despite bitcoin breaking its 64k resistance. 3). It has rallied 232.37% in 34 days.
Conclusion: The risk of a Potential upside rally while highly likely vs a potential short term wash of leverage by bearish price action. I choose the bears for they have best t.a. Price target of 1.9 about -35%.
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Stoploss at all time highs. price 3.6
Not
upcoming resistance
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If btc continues with the correction. We may have momentum to break the trendline.
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Can resistance trendline turn into support ? Well first lets shift stop loss to breakeven and just wait and see
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Its a beautiful sight when we get majority of moving averages flash sell. only the 200 moving average remains as the bulls last stand defense.
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