Bitcoin is soon to explode…..

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

LexyenHille

Bitcoin is currently in a downtrend after a false breakout of the wedge pattern that stopped out buyers. I am waiting for a probable false break to the downside, below the daily channel (which will stop out sellers) which might extend to below 37,000 level and then a reversal to a take profit level of around 42500 which acted as previous resistance in the past and is also where the second trend line is.

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