Bitcoin's falling wedge - FUD you mainstream media!
BTC has been in a bearish trend since the rise to just under 20K (on Coinbase).Let's take a look at some FUD that contributed to this the past 30 days:
FUD
Subpoena on Bitfinex and USD Tether
Friedman LLP pulling out of Tether audit
False news reporting of Korea & India's Government banning Bitcoin
Jordan Belfort putting out an 'urgent warning' to sell Bitcoin
Coinbase 1099 forms & having information of customers' purchases sent to IRS by request
CNBC reporting Bitcoin crashes every other day
With all this noise, I am bullish on Bitcoin long term. It appears that a falling wedge is forming.
Supports:
1st Major Support - ~$7900
2nd Major Support - ~$5800
I am expecting some accumulating between ~$7900 - ~$9200 before we break out upwards.
Good luck!
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