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Bitcoin Price Relatively Muted, What Are Chances of Recovery?
Bitcoin price tried to settle above the $26,500 resistance level. However, BTC failed to stay above $26,500 and started a fresh decline. There was a move below the $26,250 pivot level. The price declined below the 50% Fib retracement level of the upward move from the $25,360 swing low to the $26,780 high. It seems like the price is now stuck in a tiny range above the $25,900 support zone. Bitcoin is now trading below $26,200 and the 100 hourly Simple moving average. There is also a connecting bearish trend line forming with resistance near $26,070 on the hourly chart of the BTC/USD pair. On the upside, immediate ... (full story)