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XBTUSD News

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Last Updated Date: 24 May 2021 @ 7:02 AM (UTC)
*Please note that all the dates are in GMT time zone

On the cryptocurrency front,  slid over 7% during the weekend after China further cracked down on the trading and mining of the largest digital token. Tesla Inc. CEO Elon Musk also said during the previous week that the company would not accept bitcoin as payment for its cars.

The market is still within a downturn from last week’s selloffs. The reversal bounce on Friday’s suggests at least a near term low and we should look for rallies to challenge 38446 resistance for a short term turnaround. A close over 38446 is short term bullish. Trade may probe into Friday’s reversal, but a close under 28788 is needed to rekindle bear trend forces.



 
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