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XBTUSD News

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Last Updated Date: 14 May 2021 @ 6:52 AM (UTC)
*Please note that all the dates are in GMT time zone

In cryptocurrencies, bitcoin traded near two-and-a-half month lows as investors continue to digest Tesla Inc. Chief Executive Officer Elon Musk tweeted that the company would not accept the digital currency as a method of payment due to environmental concerns.

Meanwhile, fellow cryptocurrency dogecoin moved in the opposite direction, jumping as much as 20% after Musk said that he was involved in efforts to improve the token's transaction efficiency.

Investors are also monitoring a U.S. probe into Binance, one of the biggest cryptocurrency exchanges globally.


The market posture is negative. The slide back through last Thursday’s reversal leaves trade positioned to continue attacking under 46242. A close under 46242 projects to 42217. Any near term rebounds will find resistance at 52544. A close over 52544 is needed to recapture bottoming / bullish trade action.
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