Bitcoin Consolidates, Why There Is Risk of Larger Downside Correction
Bitcoin price is struggling to clear the $62,500 resistance against the US Dollar. BTC could decline heavily if there is a close below $60,000 in the near term. Bitcoin is facing resistance near the $62,500 and $62,650 levels. The price is now trading below $61,500 and the 100 hourly simple moving average. There is a major bullish trend line with support near $60,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate lower if there is a clear break below $60,000. Bitcoin Price Stuck In Range Bitcoin price made another attempt to clear the $62,500 and....
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