3 reasons Bitcoin dropped 2% in just 1 hour

The price of Bitcoin (BTC) declined by 2% in under an hour in a sharp correction on Nov. 2, catching traders off guard. Coincidentally, the CME Bitcoin futures market opened with a new gap, making $13,100 an area of interest for sellers.

Three technicals reasons likely fueled the abrupt decline in the price of Bitcoin: CME gap, major resistance and monthly moving averages (MAs).

There are now four CME Bitcoin futures gaps

The CME Bitcoin futures market closes during the weekend and on holidays….


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