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Factor to suggest BTC won't retrace further (short-term)

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BTC seems to be currently consolidating above the long-term pink trend line, it'd be surprising for it to break down below that. Instead, it may rise further from here instead of going down.

Heres a close up of the pink trend line holding it as support-->


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P.S. im a noob, just posting for fun
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Following the trend line perfectly...

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