Are the odds against Bitcoin (BTC)? In the short term, yes, the odds are against Bitcoin (BTC). The above daily chart for BTC/USD shows Bitcoin (BTC) trading in a symmetrical triangle. As can be seen very clearly, the price was falling before August 14 when it entered the symmetrical triangle. This means that the price is likely to keep falling after exiting the symmetrical triangle. Technical indicators are also against Bitcoin (BTC). Wave trend analysis points to further downside in the days ahead.
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