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Bitcoin is supported by the local uptrend, which passes around $29 000. At its breakdown, the bitcoin price can fall below $28 000. If after that there will be a buyback and the cryptocurrency rate will return to the range of $29-30 000 (as it was before), then it can be said about the formation of the bottom. However, there is still a chance of a deeper decline.

The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.

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