AlejandroZambrano
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Bitcoin Remains Bullish Above 5370

BITSTAMP:BTCUSD   比特币/美元
The sharp decline in bitcoin             over the last few days has turned price less overbought, and as long as we trade above the October 25 low of 5370, I suspect traders might see the current pullback as an opportunity to buy bitcoin             . The price of bitcoin             might rise to the 7450 level as long as we trade above 5370.

However, on a break to the 5370 low, I suspect we might see a steeper decline as traders might target the next support level at 4457.

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Please note that trading crypto coins might lead to more losses than your deposited money and that this is just my personal view on the market and not a recommendation.
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Chief Market Analyst at Tradecaptain.com and LondiniumFX.com
Former DAilyFX-FXCM Analyst.
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