We called it yesterday! Bitcoin appeared really top heavy in the low $50K's, and sure enough, we saw a big dump back to comfort in the high $40K's. Granted, this hardly qualifies as a 'big dump' for Bitcoin, but it's enough to dampen hopes for us to return to pump mode, for the moment. We mentioned that $52K seemed to be a barrier for BTC, with $52.8K the apparent ceiling. We did see BTC test $52K a few times, before rejecting these higher levels and smashing back down to $49.7K, where it continued to fall. It is currently finding support just above our level at $48.2K. We cited several more levels of support below this at $47.7K, then $46.2K, if the selloff is not finished. However, we appear to be finding good support at current levels, and are likely to hold here and perhaps range a bit before making the next move.
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