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Bitcoin Analysis January 26, 2018

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Bitcoin traders did very little during the session on Thursday, as we continue to bounce around above the $10,000 support level. We are above $11,000, which in and of itself is slightly positive, but I am still concerned by the lack of volume that we see in the market. I believe that for tells a lot of weakness, and if we break down below the $10,000 level, especially on volume, I suspect that we are going to fall to the $8000 level, if not the $6000 level after that. There has been an incredible amount of damage done to the psyche of crypto currency traders, especially on the retail side. Because of this, I anticipate that the general malaise should continue, and at this point I would anticipate very little in the way of movement. If we broke above the $13,000 level though, then we could start to get bullish again. for more analysis: http://www.dailyforex.com
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