US Payrolls Revised Down by 818,000, Largest in 15 Years: QCP Capital Analyzes Impact on Markets
Submitted by Anonymous (not verified) on Thu, 08/22/2024 - 22:10

Looking at the formation in the daily chart, Bitcoin bulls are struggling for momentum.

Bitcoin is moving sideways in a consolidation, forming a bull flag that is clear in the daily chart.
Bitcoin might be up 20% after flash crashing and breaching $50,000 in early August.
While Bitcoin and top altcoins are stable at press time, the sharp liquidation from the weekend to August 5 led to a major shakeout.
Bitcoin is weak at spot rates, contracting from July 2024 peaks to below $66,000.
Bitcoin bulls have had a torrid week.
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