See also
On July 27 we saw an almost 100-year chart formation by Jess Livermore, which he called an Accumulation Cylinder. The formation is a forewarning of upside acceleration in the days ahead. All that's needed is a break above the resistance line at 1.1909 that will call for upside acceleration to the former peak at 1.2264 and the long-term target at 1.2763.
That said, we also need to accept the possibility of one more drive lower to the cylinder support line near 1.1810 before the real challenge of the resistance line near 1.1909.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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On the other hand, if Bitcoin consolidates above the 7/8 Murray level, it is likely that it will reach the strong resistance of the 8/8 Murray level located at $112,500
If gold recovers above the 200 EMA at 3,327, we could expect a pullback to 3,345. This area represents strong resistance and could be seen as a selling opportunity
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