BITCOIN analysis for 16th August - BTC remains BULLISH but unwise to buy at these levels
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BITCOIN remains BULLISH. Last week price hit WR1 Weekly Pivot and stalled as anticipated. Bullish momentum on Friday drove price up to WR1 and over the weekend the BULLS pushed the price well above this level. Since then we have seen a drift sideways as overbought conditions unwind. I expect price to meet the 50 EMA some time this week or next before the next leg higher.
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