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  • Writer's pictureCryptofool

Technically speaking: BTC long term

Updated: Aug 8, 2022

The Bitcoin monthly chart is still on an uptrend and it will continue to be in the near future. I expect a short term pullback but it will not change the trend. To change the trend the price needs to fall sharply below $5000 level. Of course, it is possible but highly unlikely.

Weekly chart shows a better picture. The price continues to make HH and HL. This is very positive. In my opinion the critical level moved up from 29 - 30K to 34 - 35K level.

Breaking 34 -35K will trigger a major selloff.

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