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BTC/USD Forecast: Pressures $120K as Bullish Consolidation Suggests Breakout

From dailyforex.com

Bitcoin continues to be very bullish overall, despite the fact that we are going anywhere at the moment. All things being equal though, this looks a lot like either a bullish flag, or a bullish pennant, depending on how you draw it. Both of these very bullish, and the “measured move” suggests that we could go to the $130,000 level, based on the $10,000 range that the pole of the flag measures. Furthermore, it does make a certain amount of sense that we would move to the $130,000 level next, as it is a large, round, psychologically significant figure. Even if we were to pull back from here, I think you’ve got a ... (full story)

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  • Category: Technical Analysis