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Bitcoin has closed its best month in 19 months, reaching over $38,000 today. The cryptocurrency avoided a last-minute sell-off and held key support levels. Analysts say that the monthly candle was excellent and showed strength. Bitcoin now faces major resistance at $47,000 and near the 2021 all-time high of $69,000. The current price range has significant historical confluence, according to experts. Bitcoin has been trading sideways for the past week, despite the US macroeconomic data and the Federal Reserve Chair’s speech. Investors are waiting for a decisive breakout or breakdown from the range.
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