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Bitcoin Daily Price Analysis (6th December, 2018)

Analysis

After that sharp and impulsive decline, Bitcoin slowed down around 3500 level, but probably in wave 4 correction that can be either a flat or a triangle pattern, so be aware of another leg into new lows towards 3000 area, which can be the final wave of a five-wave cycle, so watch out for spikes as well! However, Bitcoin remains bearish as long as it’s trading below the 6200 region. That said, only an impulsive five-wave rally would be an indication of a bullish reversal.

Bitcoin Daily Price Analysis (6th December, 2018)

 

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