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Bitcoin (BTC/USD) Price Testing Highly Important Support

January 7, 2022

Via: DailyFX

Since topping out in November at just over 69k, BTC/USD has been back-peddling. This has put some pressure on long-term bulls, but has done little to change the general ‘buy-the-dip’ mentality. Some day this mentality will be truly challenged as dip buyers become complacent, but are we anywhere near that point?

Maybe, maybe not. First, giving the benefit of the doubt to the upward trend and support around 40k, we are nearing a point that may soon offer up a good risk/ entry for those looking to join the trend or add onto existing positions that favor a resurgence in the bull market.

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