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Bitcoin backs off towards 62k again this morning

Yesterday Bitcoin did find support below 62k. It rose from a session low at 61,804. The move higher came ahead of and after the 4pm London FX fix and it seemed to have little to do with any other asset class that surrounded it. Bitcoin extended that rise earlier today during the Asian session, when it peaked at 64,701. However, more recently it has been tracking lower and right now dropping back below 62,500 and closer to 62k once more. The bigger picture in terms of the range surrounded by the 50 and 100 day moving averages (now at 66,755 and 59,257 respectively) has not changed but the current daily chart configuration looks more skewed to the downside right now. Bitcoin is currently trading at 62,325 
 

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