Bitcoin pair can decline to $6.3k and below that tsupport zone of $5,9k–$6k.
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It looks to me the bitcoin M.M is preparing the market for a move up....
Bitcoin broke down as many people thought. Bounced off bottom area of support zone from previous charts.
Very bullish 1hr candle.And hourly chart both show the BTC downtrend as 6500 sought out as expected.2013-2014 was a bad year for BTC. Do yourself a favour. Look up all the old news for bitcoin back.
Momentum is weak as evidenced by the MACD, but with the lines slowly moving toward the 0 line.
Price still above cloud on the 4h chart and that's good for me. I won't be surprised if we see a flash pump to $7000.Dropping below 6400, makes 6200-6000 likely.
If the bears break down and sustain below the trendline, the bitcoin pair can decline to $6.3k and below that tsupport zone of $5,9k–$6k.
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Disclaimer: invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses.