Bitcoin’s Recent Slump Reaches a Key Support Level

(Bloomberg) -- No support level so far has been able to stop Bitcoin’s accelerating decline that saw the cryptocurrency dip below $40,000 for the first time since September. That level is important from a technical analysis perspective, given it has acted as both support and resistance multiple times over the past year. If this doesn’t stop Bitcoin’s slump, then the next support level might only come at $30,000.

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