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Bitcoin Technical Analysis: BTC Still Lacks Bullish Momentum (March 2020)
The price of Bitcoin has started the day in green but it lacks sustained bullish momentum for it to rally higher just yet. The 4H chart for BTC/USD shows that we are now at a point where a lot of retail bulls are hoping and praying that the price rallies further from here but it is likely to end in a failed rally and we might see the market decline much lower from here in the near future. The near-term outlook of the stock market remains bleak and this does not help. The price could continue to trade sideways for a whole but it risks a major decline in the near future.
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