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Bitcoin’s Bullish Retest of the Bull Flag

Written By: ChartChamp

July 17, 2024

Bitcoin had a correction overnight, but this is actually a bullish retest of the upper range of the bull flag. We are seeing a bullish bounce forming here, and I would like to see some more buy volume over the next few hours. Yesterday I did a reaction video to Bob Loukas’ analysis. He talked about the potential for rotation from big tech stocks to Bitcoin and the crypto market. I think we are seeing a strong selloff for stocks and large inflows for Bitcoin so we could be getting that rotation here.

Bitcoin is back below the bull flag. No bullish breakout yet unfortunately. Maybe we’ll see one over the weekend and early next week as we approach the Tuesday Ethereum ETF listing date.

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