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Bitcoin (BTC) Hit Reverse in Response to Fed Chair Powell Testimony

From fxempire.com

On Wednesday, bitcoin (BTC) slid by 3.60%. Reversing a 0.72% gain from Tuesday, bitcoin ended the day at $19,954. Bitcoin last ended the day at sub-$20,000 on Saturday, June 18. A recovery from sub-$20,000 saw bitcoin rise to an afternoon high of $20,863 before hitting reverse. However, falling short of $21,000, bitcoin slid through the First Major Support Level at $20,127 to a low of $19,756. Despite finding late support, the First Major Support Level pegged bitcoin back. Risk aversion weighed on bitcoin and the global financial markets, with the NASDAQ 100 and WTI crude ending the day in the red. At the time of ... (full story)

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  • Category: Technical Analysis