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Bitcoin technical analysis of May 12, 2021

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Mario Carotenuto
@trade60
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1 min read

It's not the simplest currency right now, to be honest. What can be said? it has not been bullish since it broke down the $ 58000 support. Furthermore, BTC broke the ascending trend line. According to the technical analysis it should go to $ 51500/50000 to retest this level. My personal thought: the market is extremely heated, we need a correction. There is no point in having BTC above 50K if we still can't trade most altcoins yet. I do not hold a position on BTC for now, I would like it to go deep. The market needs rest.

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This article does not contain investment advice. Every investment and trading move carries a risk, readers should conduct their own research when making a decision.

THE OPINIONS EXPRESSED BY THE AUTHOR ARE PERSONAL ONLY AND FOR INFORMATION PURPOSES AND DO NOT CONSTITUTE FINANCIAL, INVESTMENT OR OTHERWISE ADVICE.

Thanks for reading I look forward to your comments.

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