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Wednesday, 8 July 2020

Bitcoins: 8 July 2020, Wednesday

8 July 2020, Wednesday
(Click on the Technical Chart Above to Expand)

Attached is the Technicals of Bitcoins. After testing the resistance in June and July in which I had expected a breakup of $10,500 resistance, and for which there was no breakthrough, I am back to bearishness on Bitcoins. Sell all Cryptocurrencies and Bitcoins. In addition, the main reason for my bearishness on bitcoins and cryptocurrencies is the market makers' funds flow aligning with the smart monies'. This is nasty. If smart monies want to drive down prices, market makers are in agreement and will not be lending much support. The light-orange trajectory is how I envisage the price action of the Bitcoins and Cryptocurrencies in general to complete their expanding triangle.


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