I think a lot of people are hoping for a sharp correction and underestimate how fast Bitcoin grew when it isn't being used a lot in the real world. A little cooling off period is definitely needed for another meteoric rise this late summer/fall.
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Zooming in, it looks like it might have taken a bounce off the resistance line and heading down...
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From the last graph I posted we ended extending the C wave up to the top of the resistance cloud and are heading back down now. I'd like to see us hit 8000 then take a nice bounce.
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Looks like it is hitting the pattern and close to the numbers I was looking at... Just on a lot shorter timeframe than I was anticipating!
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Looks to be making its way down to that 6800 mark I was looking at... Hopefully will get a nice bounce off that. I've personally been holding on trades for the past few months waiting for it. Guessing we might see a small bump up before we make the final stop down there, but until then I'll be sitting on the sidelines though.
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Took a bounce of the resistance point I was looking at... Whether it holds it now will be the question. Almost making the Death Cross now, could be going lower... Wouldn't be surprised if we hit 5k again.