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Bitcoin: Descending Triangle

BTC/USD, 4 hours    LONG Jul 30
A descending triangle has been encountered, the price is ready to break out soon. A descending triangle suggests a specific bullish price action signal that indicates a bullish price action in case if price breaks out to the the upside. It is not ruled out that a bullish price action towards 29400 will form once beyond 29340 as the cryptocurrency looks bid.
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