It hasn’t been a good day for the Bitcoin price as of today. A lot of value has been lost in very quick succession, yet no one seems to know where this downtrend will end exactly. With some basic technical analysis, it quickly becomes apparent numerous key support levels have been broken in quick succession. This free fall will end eventually, but for now, it will seemingly continue. A Retrace was Completely Expected It is always crucial to keep an eye on how fast a cryptocurrency market moves up or down. In the case of Bitcoin, the recent uptrend has
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