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Bitcoin

Mid Term BTC USD

By orangemango
Updated
We are moving inside a downtrend channel. The last reversal was with good volume and the current pullback is healthy. During July I expect some more upside.

Trade at your own risk.
Trade wisely.



Disclaimer: I am pretty new to trading and try to improve my skills by documenting my decisions.
Comment
It did not go as low as expected, but we are moving up slowly to the upper target zone.
Bitcoin is forming some nice bull flags to the upside, so the chances are high to see over 7k again :)

If we break below 6.5k the bull setup is broken in my opinion.
Comment
We are right back at the support zone!

So we need to watch closely what happens now. Both scenarios are possible. If the price breaks below 6.2k I think we will go down to the 5.8k level. If it goes back up, we have a chance of a inversed head & shoulders with the neckline of 6.8k.
Comment
Looks like btc decides to go down!
Trend Analysis

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