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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 343145, member: 104606"] [B][SIZE=5]BTC/USD Analysis: Bearish Arguments Become More Convincing[/SIZE][/B] [img]https://i.imgur.com/OHv5QF1.jpeg[/img] On March 18, we wrote about the activation of bears near the USD 70,000 level and the likelihood of consolidation forming near this psychological mark. On March 25, we wrote that anxiety remains in the Bitcoin market. Technical analysis of the BTC/USD chart with new data on the behavior of Bitcoin prices today relative to the previously designated levels and lines shows that bearish arguments are becoming more convincing: → the median line of the ascending channel acted as resistance (shown by the first arrow); → the price has formed a consolidation zone (shown in green) with a subsequent bearish exit from it; [img]https://i.imgur.com/AvR0HB6.jpeg[/img] [B][URL="https://fxopen.com/blog/en/oa-btc-usd-analysis-bearish-arguments-become-more-convincing/?utm_source=trendriforum&utm_medium=analysis&utm_campaign=resolve"]TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
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