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Industry news:
On Tuesday, Feb. 11, pro-crypto presidential candidate Andrew Yang has dropped out of the 2020 race after a "bitterly disappointing" outcome in the New Hampshire primary where he trailed in a dismal eighth place.
Yang's campaign drew a lot of attention inside and out of the cryptocurrency space based on his pledge of a universal base income giving all Americans $1,000 a month to counter the effects of job redundancy through increasing automation.
Technical analysis:
BTC has been trading upwards. The price tested and rejected of the Pitchfork median line at the $10.500 and that was the key for the recent downside movement. I do expect few pivots to form around the Pitchfork median line.
Watch for selling opportunities and potential rotation down towards the $9.685 and $9.100.
MACD oscillator is showing decreasing on the buying power, which adds confirmation for further downside.
Major resistance is set at the price of $10.500
Support levels are seen at the price of $9.685 and $9.100¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.