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Is the bitcoin bull run over?

Bitcoin (BTC) began last week breaking the ascending triangle to the downside, with bears driving bitcoin’s price below support, and below the 200 EMA, to a low of $70,439 AUD yesterday.

Price action was oscillating in a downward trend, with the biggest drop taking place over the weekend, plunging the market cap leader more than 10% and seeing it tumble the most since February.

A sharp correction like this has been seen consistently this year, taking place after every new all-time high (ATH), and then spending three to four weeks in consolidation before going on to reach new ATHs.


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