Bitcoin Association Switzerland: Technical Analysis Update for Bitcoin
From a cycle perspective BTC is seen currently trading in the final stage
of the first of two 80-day cycles (55 trading days). At this latter stage
of the 80-day cycle, the cycle phase is down and highlights the fact that
short-term pressure on prices is likely to be bearish. This leaves the
19-Mar low of 7321 exposed and attention will be on whether the 7-Feb low
of 6012.62 can remain intact. This is a key chart point and key support.
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