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Moving forward, Wyckoff warned that “A drop in prices below chart support at the September low would give the bears fresh power to suggest a new leg down in prices,” while “A move in prices above chart resistance at this week’s high would recharge the bulls, to suggest further gains.” The Merge and its effect on the wider market have been a hot topic of discussion in recent months, with many warning that it would turn into a “buy the rumor, sell the news” type of event while others feel it will help kick off a bull market rally.
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