Hang on folks, this may get ugly.

Bitcoin / US Dollar Perpetual Inverse Swap Contract BITMEX:XBTUSD

DelRi0

A very basic and simple – yet very telling – monthly log chart with a superimposed S-curve alongside simple trendlines of support and resistance seems to indicate Bitcoin may be preparing to retrace to the $3,500 range before we see anymore blue skies. Stay alert, set your stops and make sure you’re taking profits when you can! Don’t forget to pay yourself! Happy trading – Happy Days

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