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Bitcoin traders initially bought the crypto currency during the trading session on Thursday, breaking to the upside, but then turning around to break down below the $10,000 level. By doing so, the market looks very susceptible to selling pressure, and if we can break down below the bottom of the trading session during the Thursday session, I think that we will continue to go much lower, perhaps the $9000 level, perhaps even the $8000 level after that. This is an area that has been noise in the past, so it looks as if the market is failing a bit after running into the very first amount of significant resistance. I think that we will at the very least pull back from here, to build some type of momentum. If we break down below the $8000 level, the market could go down to the $7000 level or perhaps even lower than that.
for more analysis: http://www.dailyforex.com
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