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Oversold Bitcoin Falls To Support

May 13, 2021 12:51 pm
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Could Bitcoin (CRYPTO:BTC) stage a rebound? It has dropped to a level that has been support and is oversold.

Oversold means it's trading below what would be a typical or average trading range. These conditions draw buyers in the market.

Support is a level where there is more demand than supply. That’s why sell-offs end when they reach them.

The last time BTC fell to levels around $49,500 and was as oversold as it is now, it found support and a rally followed. There’s no guarantee this happens again, but there’s a good chance that it does.

See Also: How To Buy Bitcoin

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