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3 reasons traders now expect Bitcoin hitting $13K before a new rally

3 reasons traders now expect Bitcoin hitting $13K before a new rally

The price of Bitcoin ( BTC) has been consolidating above $17,000 on Nov. 28 following a major correction from $19,400. In the near term, traders anticipate the dominant cryptocurrency to see another steep pullback. There are three main reasons why traders expect a deeper drop to occur in the near future, namely, historical cycles, the Fibonacci Sequence, and the record-high open interest of the futures market.








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