March 16: Craig Cobb: Bitcoin’s 10% Weekly Bounce
Craig Cobb says Bitcoin finally printed a strong weekly candle, closing up more than 10 percent after several weeks of weakness, but he cautions that one bullish week does not change the broader trend.
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Price is currently sitting at a major historical resistance level that previously acted as resistance, then support, and now resistance again after the monthly uptrend broke. While Bitcoin could still push higher toward the low $80,000 range if momentum builds, Craig says he continues to follow the weekly trend, which still shows a lower high and lower low structure.
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