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October 2020 Déjà vu? Bitcoin pullback at $38K has traders at odds over next move

CryptocurrencyJul 27, 2021 05:20PM ET
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October 2020 Déjà vu? Bitcoin pullback at $38K has traders at odds over next move

The wider cryptocurrency market entered a period of consolidation on July 27 following Bitcoin’s (BTC) brief spike above $40,000 the day before that helped ignite a rally across the market and brought a renewed sense of optimism to the market.

Data from Cointelegraph Markets Pro and TradingView shows that a mid-day attempt by bulls to lift the price of BTC back above the $40,000 level was rejected resulting in a price pullback to $37,500.

BTC/USDT 4-hour chart. Source: TradingView
Daily cryptocurrency market performance. Source: Coin360

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October 2020 Déjà vu? Bitcoin pullback at $38K has traders at odds over next move
 

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