Cryptocurrency
Bitcoin is “On Route” to $13,600 as Bulls Defend Crucial Support
As reported on NewsBTC, “Bitcoin’s strong price action has shown some signs of faltering as the cryptocurrency’s price declines down towards $12,000 following yesterday’s sharp upswing. “This level – which was previously heavy resistance – may soon be confirmed as support as the cryptocurrency’s price begins drifting lower. “Analysts are now widely noting that BTC […]
As reported on NewsBTC, “Bitcoin’s strong price action has shown some signs of faltering as the cryptocurrency’s price declines down towards $12,000 following yesterday’s sharp upswing.
“This level – which was previously heavy resistance – may soon be confirmed as support as the cryptocurrency’s price begins drifting lower.
“Analysts are now widely noting that BTC is well-positioned to see further upside in the days and weeks ahead, which could potentially lead it as high as $13,600.
“This mid-term technical strength, however, does not mean that the cryptocurrency won’t see any short-term downside, as there are a few factors that seem to indicate a slight move lower is imminent in the days and weeks ahead.
“Bulls and bears are currently battling for control of the key $12,000 region, as any sustained break beneath this level may lead it to plunge significantly lower…”