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The support line obviously couldn’t withstand the pressure. Due to a series of negative news and events, including Binance bot hack, U.S. Securities and Exchange Commission warning about “Potentially Unlawful Online Platforms for Trading Digital Assets”, Japan’s month-long suspension of two domestic cryptocurrency exchanges and a report that a Mt Gox trustee sold $400 million […]
In the past few weeks Bitcoin reached this year’s low at $ 6.000 and bounced in a straight run-up fashion towards $ 11.800. It formed a V pattern, followed by a retracement and a bounce which completed an inverse head and shoulders pattern. The right shoulder support managed to keep the bears in line at […]
Bitcoin’s rally lasted long enough to persuade the big part of the crypto community into thinking that there won’t be any pullbacks along the way to 14K. I warned in the previous postings about the possible fake-out breakout. It happened. The correction touched exactly 38 % Fibonacci retracement. Since we are still in recovery period […]
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