If the latest daily candle for BTC were to close right now it would be a HUGE bearish engulfing of the previous day. Combine that with the bounce off the top of the bear channel and things are not looking favorable to the bulls right now. I remain in cash anticipating another visit to the bottom of the channel.....
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A look at the same chart using a line drawing instead of candles.
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The price also was rejected by the 50 EMA.