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Descending Channel is building confidence for BTC Bears

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Well, BTC finally broke below the bottom of the bear flag about 24 hours ago as you know. The selloff has been somewhat orderly and has been confined to a narrow $500-wide channel. So risk reward would suggest selling in the $8000-8050 area in the next couple of hours, and buy around $7500. Continue trading the channel range from the short side until it breaks.

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