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Bitcoin bulls lack strength

FXStreet (Mumbai) - The pullback in Bitcoin prices after the weekend’s slump has been lackluster so far, as the prices repeatedly fail to penetrate through 340-345 levels.

Bitcoin has come under pressure, off-late on threats that it may be brought under the regulatory framework. Despite the skepticism over the usefulness of Bitcoin, Silicon Valley investors have poured money into the Bitcoin wallet sector. Blockchain, the most popular Bitcoin wallet service, announced Tuesday that it has raised $30.5 million in a Series A round, marking one of the largest funding rounds of any Bitcoin startup to date.

Bitcoin technical levels

Bitcoin has a resistance of 343 and 350 while the support is located at 299 and 285.

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