Bitcoin Dumps!! What's Next??
We called it yesterday! Bitcoin appeared really top heavy in the low 50K's, and sure enough, we saw a big dump back to comfort in the high 40K's. Granted, this hardly qualifies as a 'big dump' for Bitcoin, but it's enough to dampen hopes for us to return to pump mode, for the moment. We mentioned that 
52K seemed to be a barrier for BTC, with 52.8K the apparent ceiling. We did see BTC test 52K a few times, before rejecting these higher levels and smashing back down to 49.7K, where it continued to fall. It is currently finding support just above our level at 48.2K. We cited several more levels of support below this at 47.7K, then 46.2K, if the selloff is not finished. However, we appear to be finding good support at current levels, and are likely to hold here and perhaps range a bit before making the next move.
52K seemed to be a barrier for BTC, with 52.8K the apparent ceiling. We did see BTC test 52K a few times, before rejecting these higher levels and smashing back down to 49.7K, where it continued to fall. It is currently finding support just above our level at 48.2K. We cited several more levels of support below this at 47.7K, then 46.2K, if the selloff is not finished. However, we appear to be finding good support at current levels, and are likely to hold here and perhaps range a bit before making the next move.
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