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A “dreaded” technical indicator may signal a substantial drop in the price of Bitcoin. So reports NewsBTC.

bitcoin 2007769 1280According to the analysis, Bitcoin is “forming lower highs after forming a local top. Its move downward has remade the Death Cross.” The indicator notes the relationship between the long- and near-term moving averages. As such, the article warns that a large drop may be in the near future and the price could dip as low as $2,300 per unit.

Read the full article from NewsBTC.

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