The market well this is maybe not the best news for bitcoin because usually of course we like to see the opposite happen when bitcoin goes up we want to see stocks go down i do want to focus more on bitcoin and i want to take a look at where bitcoin might be heading in the immediate short term
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You think that sounds interesting bitcoin got a fake out as you see we broke straight up but came straight back down again and usually when we see something like this happen and we come back below the resistance and that is usually a very very bad sign and well after that we came back down and we came below the resistance again we have seen a huge sell-off ever since and from the top of this candle
We can see that bitcoin down 5.5 in just one two three four hours big volatility is happening and take a look at all of the important support and resistance that we have to take a look at first of all this is the one hour ribbon we broke it this is bearish of course we're back into a one hour bear trend going into the four hour we can see that bitcoin is still in a four hour uptrend
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We usually get bounces off of this in an uptrend we've got a bounce we are above the support that needs to hold we still need to hold above um 15,600 approximately on the four hour there's no reason too worried just and obviously on the daily you see how i mean we are overextended that it would make sense with a correction very soon and i mean you could argue that this bull run is so strong that we might go to 17,000
$17,000 by the end of the week, or I'll eat my...
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