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Bitcoin price action has been confusing for the past few days to say the least. Now that BTC/USD has plunged below the 50-day moving average, it is important to hedge your positions to mitigate risk. There is still a very high probability that Bitcoin might rally towards $9.7k again but you may want to protect your positions in case that does not happen. In any case, it is best to always be prepared for all eventualities.
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