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08.09.202216:37 Forex Analysis & Reviews: Bitcoin below $20,000 but with weak momentum.

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Bitcoin is trading again below $20,000 after a few weeks above it. Price made no real progress to the upside and the downward move so far does not seem so scary to traders. Weekly trend remains bearish and we continue to target price levels below June lows. The weekly RSI is above oversold levels and so far we have not seen any bullish divergence. In the last 4 weeks price has started a new move lower. June lows are very important support. A break below this level will lead Bitcoin towards $15,000-$10,000.

Alexandros Yfantis
Analytical expert of InstaForex
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