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Bitcoin takes out 56k and then rebounds
Earlier today Bitcoin dived from from levels around 57,900, to a low at 55,633. The fall came as tech stocks got hammered in Asian trading and that spilled over into the crypto space. The fall took BTC close to a technical support level, at 55,255, but so far that has held and the lead coin has rebounded since. That said, the rebound is not of consequence at the current levels and could just as easily be reversed as the day unfolds. Therefore, the risk of the whole move from 49,212 to the most recent high, at 65,030 remains at risk of unravelling completely. The high seen earlier today, prior to that side towards 55k was set at 58,220. Bitcoin is currently trading at 56,505
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