As we predicted yesterday, Bitcoin is experiencing a small, healthy correction alongside almost all altcoins. The growth was quite organic in the last weeks, and the correction is a welcome one if we want to maintain the recovery course. We hope that you did set your stop loss as advised.
BTC needs to retest 3 main points in order to move up:
1) Upper wedge resistance is not a strong support
2) 50 day moving average
3) If both above cases don't hold then we should test 0.5 - 0.618 fib levels and bounce up (7800-7400)
The chart illustrates it all:
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