Bitcoin / BTCUSD is having a 'bloodpath' week in the eyes of most but not to those that know when to zoom out and look at the bigger picture.
And that's BTC being on a purely technical Bull Cycle correction.
In fact the same Channel Down correction has been seen twice already this Cycle after at least a +105.70% rise.
Both times it found support and bounced on the 1 Week MA50.
Another month of consolidation is possible until contact (or close) is made but overall, the current levels are an excellent long term buy opportunity.
Buy and target 175000 (+105.70%).
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BTC
77,964.19
-0.93%