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Bitcoin Rejects The Rally!!
Bitcoin has retraced much of the rally from 43.8K. It is finding resistance at 45K. We anticipated the selloff due to the fact that the rally was quite weak, largely driven by retail investors. It should find support at 43.8K, but if not, 43.1K is the next technical level of support. The Kovach OBV (blue indicator) is quite bearish, but may be starting to reflect that BTC is oversold. If this is the case, we can expect support at these levels.
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