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Wednesday

20 January 2021

TA: Why Bitcoin Price Could Correct Sharply If It Breaks 100 SMA

TA: Why Bitcoin Price Could Correct Sharply If It Breaks 100 SMA


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There is also a key bullish trend line forming with support near $19,200 on the hourly chart of the BTC/USD pair.

If there is a downside break below the trend line support, the 100 hourly SMA, and $19,000, the price could start a significant downside correction.

If bitcoin manages to stay above the trend line support and the 100 hourly simple moving average, it could rise above $19,400.

A proper close above the $19,500 level could lead the price towards the main $20,000 barrier.

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