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Last Updated Date: 13 May 2021 @ 9:47 AM (UTC)
*Please note that all the dates are in GMT time zone

Bitcoin continued a tumble triggered by a tweet from Tesla Inc. CEO Elon Musk on the cryptocurrency front. The tweet said that Tesla has suspended the use of bitcoin to pay for vehicles over environmental concerns. It also added that Tesla will not be selling any bitcoin.

Overall the market is bearish with a downside breakout likely sending trade to attack a 41569 low. A close under 41569 is bearish to 37665. A reluctance to extend under 41569 hints for attempts to rebound this week. Corrective rebounds trapped by 51227 will maintain bear forces. A close over 52544 confirms the start of a reversing upturn.
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