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September Showers Bring Fall Gains

Aug 27, 2021 · 4 min read

By Kevin Kelly, CFA, and Ashwath Balakrishnan

Bitcoin’s break above $50k earlier this week was both exciting and short-lived as the world’s largest crypto asset was met with serious resistance following its best 30-day performance since February. One of the key levels we’re watching is ~$51,100; this marks the 61.8% Fibonacci retracement level, which is often viewed as a key area of resistance.

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