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Bitcoin Bounces from Support Level

From dailyforex.com

Bitcoin markets rallied just a bit on Tuesday to show a continuation of the overall consolidation that we have been in over the last couple of days. The $55,000 level underneath continues to offer a certain amount of support, so it does make sense that we continue to kill a bit of time in an area that would attract attention in general. The overall attitude of this market is still very bullish, but we have recently formed a bit of a “double top”, which of course would attract a certain amount of attention and itself. The $70,000 level has offered resistance, so I think it makes sense that we will go looking towards ... (full story)

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  • Category: Technical Analysis