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Bitcoin Technical Analysis - Breakout of the range is a bad omen for the bulls
After the news of BlackRock filing a Bitcoin ETF on June 15th, we saw the cryptocurrency surging in value going briefly from the 25K level to the 31K one. Bitcoin resilience has been remarkable given the hawkish repricing in interest rates expectations and the regulatory crackdowns we saw in the past weeks/months. The struggle to break above the 31K level though suggests that we might be at a point where if the risk sentiment turns negative, Bitcoin can selloff pretty hard. In fact, despite the...
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Posted: Jul 26 2023, 11:17
Author Name: forexlive
Views: 080850