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In a recent update from COINOTAG on February 26th, Galaxy Research Director Alex Thorn emphasized the importance of analyzing Bitcoin’s trading behavior, particularly within the $75,000 to $85,000 range. His assessment reveals that there was minimal trading activity in this price band prior to a surge in November, suggesting a potential market interest to revisit these levels. The 200-day Moving Average currently sits at $81,600, a key indicator for traders. Should Bitcoin experience a price retracement towards this range, it may indeed find significant support. This analysis highlights the necessity for investors to keenly observe historical price movements as they can provide valuable insights into potential future trends.
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