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Wednesday, September 6, 2023

BITCOIN - Horizontal Support zone

BITCOIN - Horizontal Support zone

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

Bitcoin has been under some pressure of late as it battles to hold onto the $29000 level but still trading within a bigger range.

It's currently at a horizontal support zone and below the 200dma. A break of this zone opens the gate for a down leg to target $21500. Alternatively, bulls recapture the 200dma and attempt the upside break again.


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