Taylorvongrela

Long Term Downtrend in BTC Nearing Make-or-Break Point

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BITSTAMP:BTCUSD   Bitcoin
Ever since the last bubble peak in December, Bitcoin (BitStamp) has been in a longer term downtrend which has consistently bounced off of fairly predictable resistance and support levels. But now that wedge is converging, and I expect this will be the "make or break" movement for the Spring/Summer. With the 3D MACD finally turning green again recently, I'm starting to think that this will be the beginning of a slow climb upwards in price. It will be interesting to see how long the current trend will persist before breaking out (up or down).
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