Cryptos have gotten battered last night in the Asia-Pacific session. This is a proper crypto selloff that we have not seen in a while, because cryptos have been mooning for some time now. But these dumps should be anticipated and tend to come out of nowhere. This is not the end of the world and we are still very bullish of Bitcoin, but technical retracements do happen, and there were clear signs of over leverage and exuberance in the system. BTC appears to be finding support from $45K, a psychological and technical level as well as $45.6K. It could certainly pull further and $42K is the next support level. On the upside, it will be a bit of a struggle to reclaim $50K and $48.2K will be in our way first.
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