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Saturday, June 19, 2021

Bitcoin bleeds towards the lows of the day

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Bitcoin looks to revisit the lows

Bitcoin fell as low as $42,141 in Asian trading then bounced to $46,000. It’s back on the defensive once again and down 3.7% to $42,288.

Bitcoin looks to revisit the lows
Bitcoin’s recovery came after Elon Musk clarified that Tesla hadn’t sold at bitcoin but it appears as though sentiment is wounded.

There is certainly a lively battle on the internet unfolding between supporters of Musk and supporters of bitcoin.

Bitcoin meme

As for the chart, this isn’t a pretty picture. Bitcoin is one of the most-technical charts out there and if the January high gives way, there isn’t much of a cushion down to $30,000.

Bitcoin daily chart

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