Where Will Bitcoin Find Support?

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In Brief
  • Bitcoin has created a weekly bearish engulfing candlestick.

  • A golden cross has transpired in the daily time-frame.

  • There is strong support at $8,550.

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During the week of May 17-24, the Bitcoin price decreased considerably. It created a bearish engulfing candlestick that caused it to decrease all the way to an important support level. A breakdown below this support could indicate that the price has begun a new bearish trend. Bearish Bitcoin Weekly Close The bearish weekly close has caused the price to be rejected below the long-term
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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