Bitcoin just logged its first candle below the 200sma since initially crossing above the 200sma in February. Watching for short-term support on this dip around the $7450 area, a move below that on volume would likely lead to more losses and a potential dip down to secondary support. Price is also trending below its short-term price averages after a recent diamond topping pattern that appeared at the end of the rising wedge. RSI and PPO are declining as well.
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