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Bitcoin topped $50000 today.
Is it going to go higher?
Using the measured move method, I believe that we may see Bitcoin at $53,000 before we see a deeper retrace lower.
Lets see.
Right now on the daily chart above, the trend is still to the upside.
The MACD histogram however may close in red today. That may indicate some weakness in the bulls.
Nevertheless we really need to see what happens next as trends can sometimes be hard to reverse or even retrace.
Cheers!
Ardy
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