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Bitcoin Faces Resistance

Bitcoin caught a relief rally to 41K which was immediately batted down. We have recovered the 40K's albeit not by much. We are currently seeing support from 40.8K, one of the last levels in the 40K handle. If this does not hold, we could test 39.2K again. If we somehow see strong buying come through, we must first break out from 41K and 42K, before testing higher levels. We anticipate 45K to be a ceiling for now.
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