Bitcoin Arrives at Last Defense as Chart Support Tested
(Bloomberg) -- Bitcoin is falling for a third day after a global selloff in riskier assets and has dropped to as low as $40,237, a level not seen since early August. That takes it to the lower end of an Ichimoku cloud technical pattern, which offers support at about $39,900 for the next week. The price is forming a “hammer” candlestick pattern with a relatively long lower shadow, demonstrating that support from the cloud is being watched closely.
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