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Traders say Bitcoin price ‘needed pullback’ to maintain bullish momentum – Cointelegraph

Analysts say Bitcoin price needed to “slow down” in order to maintain the bullish momentum needed for the next leg up.



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Bitcoins parabolic increase well above its previous all-time-high has many experiencing déjà vu from 2017 and a number of analysts are concerned the market is overdue for a sizable correction. 
On Jan. 8 With Bitcoin (BTC) price reached a new all-time high at $41,940 and this weeks 28% collapse to $31,076 had professional and retail investors afraid that a strong trend reversal was in the making.
BTC/USDT 4-hour chart. Source: TradingView
Bitcoins historical data shows that rapid parabolic ascents…

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