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Bitcoin Clinging To Trendline Support Following Buffett's Comments

By AxiTrader (Greg McKenna)CryptocurrencyJan 12, 2018 12:54
au.investing.com/analysis/bitcoin-clinging-to-trendline-support-following-buffetts-comments-200197166
Bitcoin Clinging To Trendline Support Following Buffett's Comments
By AxiTrader (Greg McKenna)   |  Jan 12, 2018 12:54
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Originally published by AxiTrader

Billionaire investor Warren Buffett has said he'd buy a 5 year put on all the cryptocurrencies. And the South Korean authorities are cracking down on crytpos and (Bitcoin).

That's put (BTC/USD) under pressure this week and this morning it is down for the fourth day in a row sitting around $13,350.

But, while Bitcoin has been under pressure, and while the price looks set to close below my slow moving average for the first time since September 2017 traders are currently eyeing, and respecting, the trendline which joins the November and December sell-offs.

That's an important level to watch with the trendline sitting around the $12,800 region. A break below that would open the way to the December low around $10,500.

But it has to break first.

Here's the chart:

Chart
Chart

Have a great day's trading.

Bitcoin Clinging To Trendline Support Following Buffett's Comments
 

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Bitcoin Clinging To Trendline Support Following Buffett's Comments

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