Bitcoin

BTCUSD: a bull-trap or a drop correction

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The downtrend channel was changed a bit, but the price is still there. The rise from yesterday may be just a slight correction of the drop that was too fast. Now, when RSI will be cooled off a little, bitcoin may go lower again. In order to reestimate the chances for the rise instead of the prolongated fall, there are levels at around 6850, 7200 and 7750, and passing each of them will add the confidence to buyers. Otherwise, we may see sub-6k.

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