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$BTC Bitcoin Mid-BB Retest in Progress, Avg. 40% Drop Follows
BTCUSD 3-Day is retesting the mid-BB. As the chart shows, rejection from this level has resulted in on average a 40% decline. The last time it was rejected from this level, the Black Thursday collapse followed.
A break above will lead to a test of the upper band and likely a sustained breakout rally. Bear trend may officially be over if there is no rejection here.
A break above will lead to a test of the upper band and likely a sustained breakout rally. Bear trend may officially be over if there is no rejection here.
CoinChartist is run by Tony "The Bull" Severino, CMT, a technical analyst fascinated w/ Elliott Wave Principle, Hurst Cycle Theory, W.D. Gann, Japanese Candlesticks, & other classical charting methods. Visit coinchartist.io for free TA education!
CoinChartist is run by Tony "The Bull" Severino, CMT, a technical analyst fascinated w/ Elliott Wave Principle, Hurst Cycle Theory, W.D. Gann, Japanese Candlesticks, & other classical charting methods. Visit coinchartist.io for free TA education!
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