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Current support/resistance: $8'500 / $8'800
The downward trend has strengthened today. Bitcoin had a very volatile day yesterday and the resistance at $8'800 was tested unsuccessfully. This failure saw the price drop quickly below $8'600 and tested the key support at $8'500. In other words, the buying pressure is too low. After three days in the red, we can expect a stabilization this weekend if the support holds today. However, all indicators are down and it is likely that the current level will not hold up in the long term without an increase in volume.
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