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Crypto Trend Lines Point To Weakness Ahead

Published 07/28/2021, 11:59 AM
Updated 07/09/2023, 06:31 AM

Resistance trend lines in crypto – specifically, Bitcoin – portend weakness ahead.

 

Bitcoin Chart.

If BTC does start to weaken, I’d say one of the first ones to descend will be: Marathon Digital Holdings Inc (NASDAQ:MARA).

MARA Chart.

Here’s the puzzlement, though — MicroStrategy (NASDAQ:MSTR) actually looks strong, and it is utterly dependent on BTC strength. A few days ago, it leaped over its trend line, and support has held since then.

MicroStrategy Chart.

I’ve got no dog in this fight, but I at least wanted to highlight that BTC was mashed up against resistance again.

Latest comments

Congrats - you got it completely wrong. Bitcoin at $47k and MARA at 33.60 AH.
Looks like you just drew a random diagonal line through the btc chart? It doesn't even line up with any candles?
Well done bro. You saw it right.
A lot do happen in the online market
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