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13 May 2021

TA: Bitcoin Struggles Near $56K, Here’s Why 100 SMA Is The Key

TA: Bitcoin Struggles Near $56K, Here’s Why 100 SMA Is The Key


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The price even spiked above the $56,000 resistance level.

The 100 hourly simple moving average is near the $53,000 zone to act as a strong support.

If bitcoin remains stable above the 100 hourly SMA and the $53,000 support, it could start a fresh increase.

A successful close above the $56,000 resistance zone could set the pace for a move towards the $58,000 level in the near term.

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