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Bitcoin surges to the upside. What are the technicals telling us now?

Bitcoin surges to the upside. What are the technicals telling us now?
The price of bitcoin surged higher on positive results from a lawsuit between Grayscale and the SEC. The ruling may open the door for ETF's on bitcoin. We will see.The run to the upside to the price above its 200-day moving average at $27,472, but short of its 38.2% retracement of the move down from the 2023 high at $27,821. The price run higher has stalled.What next?There is support near the $27,000 level. That level represents the 38.2% retracement of the spike higher. Correct to that level,... Read More
Posted: Aug 29 2023, 15:31
Author Name: forexlive
Views: 112592

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