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Bitcoin Weekly Analysis

Bitcoin Weekly Analysis

The past week was rough for the crypto market leader. After a bullish rally, a bearish run dominated this week’s chart. Still, Bitcoin holds above $255 billion in market cap and there seems to have no decrease in the trading of this Coin as in the past 24 hours, over $18.5 billion in trading volume was recorded.

Key Highlights:

The Resistance above $17,200 was very strong and the coin could not breach it even after testing it for a couple of times

The coin is currently testing the resistance at $15,300, which if breached might give it an upward boost

In the weekly chart, Bitcoin started with an upward jump as it went up from $13,600 to $15,300. The coin had to face resistance at $15,300 which it ultimately breached to cross $17,000. But stiff resistance at $17,200 ceased any further growth and also pushed the price downward. This initiated a long bearish rally.



This post first appeared on Trading Blogs And Financial Markets Analysis, please read the originial post: here

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Bitcoin Weekly Analysis

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