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Bitcoin’s decline could lead to a test of major support

Price action has generated a ‘spinning top’ candle.
Image: Eva Marie Uzcategui, Bloomberg
Consolidation after last week’s flash crash has brought Bitcoin to a potentially key test.

The largest cryptocurrency’s Monday low of $43,446 touched the upper border of its bullish Ichimoku cloud, an area indicating support. The price action has also generated a “spinning top” candle, a pattern which represents indecision, so follow through price action will be key to see whether bulls or bears have the upper hand.

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Looks more likely to test 30k than head for 100… that is could, potentially…candle spinning wise- ummm…. you see?

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