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BTC to Pick Back Up
Technical Analysis

Written by Jordan Bodnar, 01.31.2018

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Bitcoin has taken a hit this January. While other cyrptocurrencies have seen great leaps (NEO +95% VEN +230%) BTC is down over 25%. Increasing governmental regulation from Korea and China spured a heavy degree of fear this month. New investors who joined in the December rise were quick to pull out resulting in several large price drops.

However this recent tumble seems to be appraching significant suppport. The $9 000 range has been a psychological support level since the price fell hard earlier this month. Pattern recognition shows BTC's current price at a dip and forsees it picking up back again over the next couple days.

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