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📉Bitcoin rally loses momentum❗

1:27 PM 10 August 2021

Major cryptocurrency bounces off key resistance level

From a technical point of view, the price of bitcoin bounced off the major resistance at $ 46,500. The purple zone is marked with the 50% Fibonacci retracement of the last downward wave and previous price reactions. If current sentiment prevails until the end of the day then a potential shooting star pattern may occur, which according to the classic assumptions of technical analysis, often heralds declines.

Bitcoin interval D1. Source: xStation5

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