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Analyst Thinks Bitcoin’s Support Level Will Be $27 – $28k

An analyst from ethereumworldnews.com pointed out that Bitcoin may find support in the $27,000 to $28,000 level. According to the report, if BTC doesn’t recover from the current market dips, it may be the signal of the start of a bear market.

At the time of writing, Bitcoin is hovering around the $33,000 mark as shown on coin information websites like CoinMarketCap and CoinGecko.

The new dip to $33k theoretically increases the chances of Bitcoin retesting what happened last Wednesday’s when Bitcoin hit a low of $30k. This happened during the weekly close which is now very near as well.

If we also look at Bitcoin’s charts, it recently failed to recover the 200-day moving averag…

This article was first published on coinquora.com

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Source: Cryptocurrency - investing.com

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