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19 April 2021

Why Bitcoin Price Could Restart Rally Unless It Dives Below $56.5K

Why Bitcoin Price Could Restart Rally Unless It Dives Below $56.5K


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The BTC/USD pair broke the $58,000 resistance and it settled above the 100 simple moving average (4-hours).

The pair tested the $56,500 support zone and the 100 simple moving average (4-hours).

If there is a downside break below the trend line support, $56,500, and the 100 simple moving average (4-hours), there are chances of a major decline towards $55,250.

If bitcoin stays above the $56,500 support and the 100 simple moving average (4-hours), there are chances of a fresh increase.

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