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Once again bitcoin is locked in a narrow range. The local uptrend supports the cryptocurrency rate at $29 500. At the same time, bitcoin cannot go above $31 500, because there is strong resistance at this level. In case of an upward breakout from the narrow range, it will be possible to say that bitcoin has formed a bottom and is preparing for a recovery. However, this may take more than one month.

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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