Bitcoin - Back to where we started - BTC/USD catapults lower

Amid no real fundamental news Bitcoin has lost all of today's gains.
BTC/USD is now trading 2% lower as volatility picked up today.

Rajan Dhall, MSTA FX Daily

The pump and dump scenario is not going to go well with Bitcoin enthusiasts.

At least the market didn't take out the 7,080.00 support level.

The market fell USD 479,22 but the 7K level is holding out.

Longer-term the downtrend is still in tack but the continuation depends on the 6,526.00 level holds out, if that level breaks its really a bad situation.

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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