Bitcoin Price Update - Market Appears to Be Weak
The weekly chart, if you will recall, suggests there will be higher prices in the weeks and months ahead, but a bright future does not help us as traders if we lose everything in a down day or two. The weekly chart is a good indicator for a buy and hold strategy, and can be helpful in establishing the general trend. But at the moment, the weekly is merely suggesting the longer term trend is up. That's not good enough for active traders. Yesterday, we looked at the daily chart for clarification about the short term direction of the market. If you recall, we concluded that the daily chart....
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