BTCUSD weekly

As described on the plot, first red candle on weekly time frame indicates long term correction up to previous high/support level.
交易开始: Bitcoin Fork was suspended/cancelled that may cause price to move down.

I believe many people invested in Bitcoin recently (that pumped up the price) as they wanted to double their coins due to 'fork'. I know people taken big loans (10k-20k$ or more) expecting to make a quick profit alike it happened on Bitcoin Cash. If 'fork' will be cancelled then the same people will be forced to sell their bitcoins to pay back their loans. for that reason I believe price of the Bitcoin will go down.

"2x Called Off: Bitcoin Hard Fork Suspended for Lack of Consensus"
交易开始: Price just strongly moved down, at the moment we have 6750$, expecting price to move even lower.
Almost go to your support zone, though you were WAY early
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What is the next move now?
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Are you still bear?
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Simon_says StanLeee
Yes and No. In short-term perspective price will move up but on long-term I still expect BTCUSD to move lower ~4900$.

Observe Bitcoin Cash as money escapes from Bitcoin to Bitcoin cash.
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it must be closed red
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Simon_says akaBeaver
@akaBeaver, Agree
I like this analysis a lot
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Very early for this prediction, but I'm a new trader
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