Another daily update on the bitcoin market from a technical analysis standpoint.
I'm holding strong and accumulating more entries during these last 3 days. Although we keep seeing a small downtrending channel playing out bitcoin is forming a descending wedge as well which gives bullish indication as well as being extremely oversold on higher time frames that we are nearing the bottom for a reversal.
My target is 8300 once this reversal occurs which my projection is from 7185 is the .786 fib line and should hold strong. the MAX bottom i project it should not go past is 6900 due to the confluence support of our previous lows.
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