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Bitcoin moves

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Bitcoin hunts for support above $50,000

In the meantime, Bitcoin is trading below the ascending channel’s middle boundary as bulls fight to secure higher support. BTC must reclaim this lost ground to continue with gains toward $60,000. It is essential to anticipate resistance at the recent all-time high of around $57,000

If Bitcoin drops under $50,000, the 50 Simple Moving Average ( SMA ) is in line to provide support. Simultaneously, the channel’s lower edge will barricade the downside to ensure that toward $40,000 is limited. Note that the 100 SMA will prevent BTC from correcting sharply in case of massive declines.

Bitcoin intraday levels

Spot rate: $51,287

Relative change: -315

Percentage change: -0.6

Trend: Bitcoin rise

Volatility: High

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