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Bitcoin pulls back to test key level 

Bitcoin experienced a fairly large drop yesterday with the market falling back below the 15000 level. Price is now approaching the 50 day SMA which has provided a floor to previous declines. Should the market hold above this level then a recovery may occur but a break below there could pave the way for a retest of 12600 which may be seen as a possible neckline in a head and shoulders setup.

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