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Bitcoin Price Hits Crucial Support: Will Bulls Ignite a Fresh Increase?
Bitcoin price started a downside correction after it struggled above the $71,500 level. A new weekly high was formed at $71,896 and the price recently started a downside correction. The price declined below the $70,000 level and tested the 50% Fib retracement level of the upward wave from the $66,046 swing low to the $71,896 high. There was also a spike below the $68,800 support zone. The bulls are currently active near the $68,800 zone. Bitcoin price is now trading above $68,000 and the 100 hourly Simple moving average. The price is now facing resistance near the $69,650 level. The first major resistance could be ... (full story)