Bitcoin has been consolidating (sideways movement) since last week and it’s likely to drop further this week. We are expecting a further movement downwards because bitcoin price has hit resistance and we see a rejection candle forming right there at the resistance. Also, this movement is accompanied by the 200 moving average which serves either a support or resistance. Bitcoin is an asset that is majorly moved by the news and rumours.
Looking at the technical indicators:
Major Support Level– $9,078
Major Resistance Level – $9,350
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