Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Bitcoin managed to recover and climb back above the $16.2k level However, there was no promise of an imminent bullish move Bitcoin faces strong resistance at the $17k mark, which is a psychological round number […]
highlighted the exchange outflows reached an all-time high, which suggested that BTC could be close to finding a bottom.
Bitcoin bulls attempted to break past the $17k mark but were met with rejection each time. This was witnessed in the past few days as well, as a surge from $15.5k to $16.8k was abruptly halted. The price also formed a constriction pattern on the shorter timeframe charts.
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