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28 July 2021

Factors Stack In Favor Of Bullish Bitcoin Fractal, Despite Latest Plunge

Factors Stack In Favor Of Bullish Bitcoin Fractal, Despite Latest Plunge


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The stage is set well, so much so, the price action and several key technical indicators are closely mimicking the behavior right around one of the greatest pumps in Bitcoin history?

Instead, price action in the top cryptocurrency appears to be instead mimicking the technical patterns following the last major top, back in June 2019.

Much like last time around, the daily RSI support was lost resulting in another push lower and forming a bullish divergence on the price chart.

The last time around, the LMACD also crossed down temporarily for just one daily close, followed by an explosive move up to above the death cross – a more than 40% move across two days

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