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BTC/USD: Technical Weakness Deepens

From dailyforex.com

Bitcoin continues to show just how weak it is during the Monday session as we initially tried to rally but then gave back gains to rapidly form a bit of an inverted hammer. As I look at the Bitcoin chart, I'm paying close attention to the $92,500 level because I think that might be the beginning of the end for Bitcoin if we slice through it. It's worth noting that we are well below the $100,000 level, which is a large, round, psychologically significant figure, but more importantly, an area that attracts a lot of headlines. Sub 100 K We have been below it for four days now, and it doesn't look like it's coming back ... (full story)

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  • Category: Fundamental Analysis