Bitcoin Technical Analysis Update
The chart to keep an eye on, for the bears BTC have to break down this yellow trendline than the weekly 200ma that's on 3k. For bearish confirmation it needs to stay there for one week till the weekly candle close and retest. Target 1.2k, that's very unlikely I would love to see that but the weekly has only been broken on September of 2015 and quickly recovered starting the bull market of 2016 and 2017.
If you are asking why I would love to see it break down, it's because if BTC fall to 1.2k a lot of scamcoins would be wiped out of the community a thing that is common this days so their promoters as well.
Also would be a great opportunity to short and accumulate BTC. But it's very unlikely.
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