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Bitcoin (BTC) Breaks Down Two Channels Consecutively

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Published: 22 Jun 2022 › Updated: 22 Jun 2022Bitcoin (BTC) Breaks Down Two Channels Consecutively

Bitcoin (BTC) Breaks Down Two Channels Consecutively

Hi friends hope you are well, and welcome to the new update on Bitcoin.

Breaking down two channels:
On an hourly time frame, after breaking down an up channel Bitcoin formed another up channel, this time the support of the previous channel was working as a resistance to the new channel. But finally, Bitcoin broke down the second channel as well.

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$19.5k support and RSI on weekly time frame:
On a weekly time frame, the leading cryptocurrency has found support above $19500 and RSI has the most oversold value in the history of BTC. Now it has moved sideways, therefore, there is a very high probability that from here Bitcoin will start the next long-term bullish move. But before such move there can be a sideways trend in the weekly time frame.

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For a detailed analysis, you can watch the video.

▶️ 3Speak

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