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Technically speaking: BTC long term

Updated: Aug 8, 2022

Bitcoin's long term trend is down and. We may see some short lived rallies but in order for the long term trend to reverse, the price needs to break the Ichimoku cloud. It won't happen overnight. right now the price established a near term bottom at around 18 - 19K levels. If it breaks below those levels we will see a further decline. I do not believe it is a v-shape recovery. At best, we can establish a bottom at around 20K level.

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