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This is an update on Thursday January 10th's BTCUSD analysis Price is currently consolidating (accumulating interest & orders) underneath the 3750 quarter level. Remember, after a large move its typically expected the market will take some time to breathe! Intraday data is showing lower highs, still expecting a possible "pop" in price to break the new structure highs (3800) to capture liquidity before bringing price down. The speculated price action arrows have been moved slightly to reflect the levels I feel are likely that we will see a reaction but the movement we are looking for remains the same... The possibility for new lows of the year are still on the table as of today



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The cycle of BTC
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As an longterm investor who invested much earlier than most of all, I still think that btc will go up again. Before this there is a cycle that needs to be completed all the way. So lets have a look at the base trend.. There are still 2 lines below the actual value of btc. For sure the amount of people buying in is alrady growing but we all know that this whole market is based on what we call whales or maybe institutional investors. They will wait until the very end, just because they can. Wait with all kind of margin leverage until there is a clear patarn. We will see it when it's time (very long candle shadow on the weekly)

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Lets go baby!

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BTCUSD will end correction at 3520 or 3171 and will move to 6250 first target.

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BITFINEX:BTCUSDundefined