Bitcoin Price Weekly Analysis – Under Heavy Selling Pressure

Bitcoin Price Weekly Analysis – Under Heavy Selling Pressure

Bitcoin price was sold aggressively this past week. More losses are possible, but the $400 support area holds the key. Intraday Support Level can be $400. Intraday Resistance Level may be $420. Bitcoin price traded down, and as highlighted in this past week’s analysis, the resistance area of $450 played well to push the price down. There was a sharp downside reaction, and the price moved closer to the $400 level. A new monthly low of $402 was formed where the bulls are putting up a fight to prevent any additional weakness. There are a couple of bearish trend lines formed on the hourly....

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