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Are we ready for a recovery in the Bitcoin market?

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Over the past 24 hours, Bitcoin has taken a steep hit.

A few weeks back we highlighted the potential AB=CD 127.2% pattern at 8236.3, which is close to completing. We also highlighted the broken Quasimodo line at 7592.0.

Right now, however, the unit appears to be finding a big just ahead of demand planted at 8821.0-9907.0.

Is a recovery a possibility from here, or do you believe that there's further downside left in the old girl yet?

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