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BTC rejected from daily 100SMA

Update on BTC

100SMA on the daily slapped BTC back down. We see a technical local top formation with the candle structure on the daily with a forming tweezer top structure.

The weekly chart candle CLOSE is worth keeping an on as SO FAR it’s setting up to be bearishly divergent divergent.

The real test of a real bearish continuation would be dropping below the June low as that erases all bullish Elliot wave counts.

Stay tuned
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