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Halving Won’t Save Bitcoin From Falling to $7.5K; Here’s Why

▪ Bitcoin briefly closed above $6,400 for the second time in seven days.
 ▪ The cryptocurrency later pulled back by circa $400 amid profit-taking.
 ▪ It found support near $9,000, raising concerns about an extended move towards $7,500.

Bitcoin’s impressive rebound from its mid-March lows extended its upward move above $6,400 on Wednesday. But the price action left the cryptocurrency alarmingly overbought – even raising the possibility of a $1,500 price correction.