Just a scenario I am watching. We got a pretty clear rejection at the weekly 200 EMA. That is bearish. We also have the weekly 200 weighted moving average sitting at 4800. To put things into perspective, it took us 10 months to break above the weighted moving average in 2015. The EMA also served as our floor back then (shown on chart below). So, I remain a bear for now.
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Bitcoin may catch itself here for awhile. Let's see how it plays out.