Bitcoin

Bitcoin back in the bear flag range....

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BTC looked ready to breakdown but instead jumped back into the wedge range, keeping the bear flag alive, adding probability back to an upside move as well. The penultimate move lower still has a likely target of the $54k High Volume Node. The bulls want to see a breakout of the channel. Terrible trading instrument right now.

Remember the Chow breakpoint rule: Do not draw trend lines from the bottom of the previous range, this is incorrect, and the most common mistake for technical analysts.

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