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Bitcoin Momentum Improves; Faces Resistance at $34K

Bitcoin Momentum Improves; Faces Resistance at $34K


Bitcoin (BTC) is holding onto gains after a strong return above $30,000 on Wednesday. The cryptocurrency is starting to stall around $32,400 at press time and is up about 2% over the past week.

Short-term momentum is improving, albeit within an intermediate-term downtrend that began in April. Initial resistance is seen at the 50-day moving average near $34,000.



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