Bitcoin Price Jumps As Elon Musk Tweets Progress Toward Renewable Mining

Given the developing series of lower-lows and lower-highs, it is difficult to make a convincing bullish argument at this stage and Bitcoin may need to regain its luster before resistance can be taken out and progress toward renewable mining initiatives may help create such an appeal. That said, Bitcoin remains well beneath recent levels and lacks significant support until $30,000. A break beneath $30,000 would mark another significant downgrade in the technical outlook and would open the door to deeper losses.

 

 

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