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Bitcoin doesn’t fit the downtrend now

From fxpro.news

The crypto market capitalisation rose 1.4% in 24 hours to $2.66 trillion. Buyers stepped in the night before when Bitcoin touched $68.5K and pushed the price up to $70.7K at the start of active trading in Europe. Bitcoin was rocked on Wednesday, first pushing the price above $71.8K and then dropping to $68.5K. This plunge initially confirmed the short-term downtrend, only to be broken a few hours later with the re-take of previous local highs. For the bulls in Bitcoin, the short-term focus is on the ability to break above $71K. Traders with a slightly longer-term horizon may prefer to wait for the first ... (full story)

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  • Category: Technical Analysis