Bitcoin Creates Another Bullish Hammer Above Crucial Moving Average

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In Brief
  • The Bitcoin price has bounced on the 50-day MA and created a hammer candlestick.

  • The price is trading near a minor resistance area near $9,300.

  • There is a trading range between $8,500-$10,050.

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On June 25, the Bitcoin price continued its descent from the day prior, dropping to a low of $9,009. However, the lower prices were quickly bought up, and the price closed at $9,249, creating a long lower wick and a hammer candlestick. The price is still trading inside a significant support area, from which a bounce is expected. Current Bitcoin Support On June 25, the Bitcoin price created a
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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