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Bitcoin Re-Testing 200sma Support

Short
COINBASE:BTCUSD   Bitcoin
Bitcoin has fallen back below the $50k level after price failed to advance above the purple 34ema for 5 consecutive days. Price is now testing the red 200sma again while also falling back into the purple downtrend channel. First level of support to watch for is near $40k(yellow), secondary support comes in near $30k(yellow). Lower indicators all pointing to more downside ahead for price in the short and medium-term.

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