Daily Crypto Market Update - 13.02.2023
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Daily Crypto Market Update - 13.02.2023
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Crypto markets consolidated over the weekend as markets took a breather from last week's selloff. Bears appear to be in control of the near term price action as market participants look towards the release of the US CPI and and retail sales numbers to offer guidance on the macroeconomic front.
Bitcoin briefly traded below $21,500 on Friday before consolidating losses. The cryptocurrency traded above $22,000 before closing the week at $21,800. Bitcoin was trading flat at the time of publication.
Bitcoin bounced from its immediate support level at $21,500. If broken, we could see the cryptocurrency move towards $20,500. $22,500 is the nearest resistance on the upside.
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