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Thursday

22 April 2021

TA: Bitcoin Corrects Below $58K, But Here’s Why Uptrend Is Still Intact

TA: Bitcoin Corrects Below $58K, But Here’s Why Uptrend Is Still Intact


smart summary beta

It traded below the key $58,250 support level and $58,000.

It seems like there is a major contracting triangle forming with support near $57,400 on the hourly chart of the BTC/USD pair.

The first major resistance is near the $58,250 level and the 100 hourly simple moving average.

The first major support on the downside is near the $57,400 level and the triangle lower trend line.

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