Bitcoin after 20% retracement

The price of Bitcoin has retracted from its recent high by about 20%. This could be a typical correction in an upward movement. However, the price could potentially stop falling in the area of 10000 USD per BTC.

Near this psychological level, we could find potential support set by previous highs and by the lower limit in an upward channel. If this area is defended the price could continue its upward movement with the next potential resistance at the line drawn through the tops.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.

Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

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