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Bitcoin extends downside correction

Yesterday a series of updates here pointed to the potential for Bitcoin to run out of steam on the topside, as exhaustion in the price action and a lack of follow-through seemed to stall the lead coin above 73k. Well, that lack of traction has delivered further downside since those updates and BTC has dropped back earlier this morning to a low set at 66,715. It has bounced from that low now though. That said, this correction could have further to run, but that is not certain, given the appetite to grab this one on dips over the past few weeks. The nearest support that I can readily identify from here is at 64,310, as that it where the 21 day moving average is in place right now. The earlier session high was set and 72,392. Bitcoin is currently trading 68,440
 

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