We see Bitcoin moving lower towards support at $6536 as long as it stays below the key resistance level at $8571. Our view is re-enforced by Bitcoin not rising on the back of a fall in the stock market over the past few trading sessions due to fears of a global recession as it has been argued in the past that the cryptocurrency can be seen as a safe haven.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.