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Bitcoin Pressing Support Testing the 2022 Low

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@scaredycatguide
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The sell off has been a slow grind this past week with low volume and modest sized candles.

However, this has still pushed Bitcoin price near the lows for the year, which if broken leaves it wide open to hit the 29-30K area.

Bitcoin Pressing Support Testing the 2022 Low

Looking at the daily chart above you can see the 33K area being battled right now and then the larger more established support at roughly 30k, give or take.

Things do look a little oversold, but I have seen RSI much worse than this meaning we don't have to have a rebound.

Jumping in here...

My gut tells me it may be early, that I can get some bitcoin at 30K even with the belief that there are dozens of large institutional buyers there that would bid it up before actually getting to the level.

Nevertheless, I decided to add some here at 33,700. 50% of the amount I'm willing to purchase so just in case we do see 30K or less I can grab some more.

Either way, what I just bought I plan to HODL for minimum six months if not a year or two, thus I'm not too worried about my entry price at these levels.

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