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Bitcoin Chart Says It Is Headed Here (BTC/USD)

Cryptocurrency Bitcoin is trading in a bear flag pattern and will likely head lower in the next few weeks. Look for downside to target $6,850 before it forms a near-term bottom and begins its trek higher again. My long-term outlook remains extremely bullish on Bitcoin based on what is going on with gov’t debt and the Federal Reserves around the world. The fantasy of unlimited printing of money will eventually end and that will be where Bitcoin will shine. I will be looking to accumulate at the $6,850 level.

 

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