Bitcoin Update
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Traders,
As stated in the video above from the last weekly update, the 200 DMA will provide resistance. I expected us to hover under it for a good part of a week. We have done that so far with no breakdown and have good volume support directly underneath us (see VRVP).
If we break below our big volume candle on the VRVP, I expect I may get a sell signal confirmation and we could break down further. For now, this is simply a local pullback and we are actually forming a bull flag which means we could go higher soon and retest the top of our channel.