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Crypto Strategy by Fundstrat and the BTC Low

Bitcoin Trading in Venezuela Is Now

Two years after BTC’s historic post US Thanksgiving surge in 2016 toward the 20K peak, BTC faces numerous hurdles to technically conclude it is resuming its longer-term uptrend. As noted below, short-term trading resistance remains at the November downtrend and 90-hour sma (7.7-8K) with a move above the far more important resistance band between 9-10K needed to signal a resumption of BTC’s longer-term uptrend. 

The case for an intermediate-term low.

1. Q4 2019 trading range between 6.1-6.8K
2. Lower end of the 2H 2019 downtrend channel
3. BTC’s 2016-2019 uptrend
4. The 62% retracement of the 2H 2019 decline



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