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Bitcoin at risk of further downside?

An update here yesterday afternoon noted how Bitcoin was falling very close to its 100 day moving average support. That was in place then at 96,028. Well, subsequent to that update, BTC did push through that level and it could have triggered stops, as it fell back later in the evening to below 95k. The low seen ahead of the wider US market close was set at 94,856. A rebound into the Asian opening saw it briefly reclaim that 100 day moving average, when it reached 96,498. The 100 day moving average is in place this morning at 96,317. So as you can see, it is still rising quite steeply. All the while the price remains below that level there is the potential for more downside. So, it does not seem like buyers have that much appetite right now, but we know that can change. It really also depends on what further stops might lurk lower down. Beyond the current levels the next, quite important level could be the low seen on February 3, when BTC based at 91,304. It is currently trading at 95,800
 

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