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Bitcoin - Technical Analysis of the Situation
The inability of the bullish players
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The inability of the bullish players to maintain upward momentum has resulted in long upper shadows on the monthly candles. However, in February, the bearish players chose not to merely focus on these shadows. Consequently, the bears launched a significant offensive towards the end of the month. Currently, the weekly support level (88040) has been tested, with the weekly medium-term trend (81261) and the monthly short-term trend (79774) ahead. On the daily timeframe, Bitcoin is testing the target for a
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Evangelos Poulakis,
Analytical expert of InstaForex
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