Bitcoin’s Drop to $7,000 Will Be Short Lasting Due to This Key Indicator Best australian crypto exch

Please change your life!!! Click on the link! http://youtube.com+watch=@3162039724/Yhqr
Can you afford this thing?: http://youtube.com+watch=@3162039724/orwTH
Software at the best prices: http://amzn.com@3162039724/f3ANs

The aftermath of Bitcoin’s recent rally up to highs of $7,500 – and subsequent rejection – has been grave for bulls, as BTC has been caught within a strong downtrend that is leading the cryptocurrency down to its key support region that exists around $7,000. It is important to note that one key factor is currently showing signs that this current sell-off may be weaker than it appears, which may mean that it will be short lived and followed by a bounce that leads the crypto back up to its resistance within the mid-to-upper $7,000 region. At the time of writing, Bitcoin is trading down just under 1% at its current price of $7,270, which marks a notable decline from its daily highs of $7,400 that were set during an early morning rally attempt that resulted in it dropping to its current levels. This latest rejection comes closely on the heels of the one seen last week, when BTC surged to highs of over $7,500 before facing insurmountable resistance that sparked the ongoing downtrend. It is important to note that Bitcoin’s bulls have made many attempts to rally over the past several weeks, with each attempt resulting in strong and swift rejections that lead the cryptocurrency back to its support within the lower-$7,000 region. HornHairs, a popular crypto analyst on Twitter, explained in a tweet from earlier this morning that the buying pressure the crypto has found despite its recent break below its swing high signals that it may soon see further upwards momentum. Cantering Clark, another popular crypto analyst on Twitter, explained that active and passive sellers are not currently working cohesively, which means that shorts will be caught off guard if BTC’s bulls ardently defend this level. As BTC inches lower to its key support level at $7,000, how buyers respond to this level will be imperative for determining which direction the crypto will trend in the first days and weeks of the new year.

All data is taken from the source: https://www.newsbtc.com/
Article Link: https://www.newsbtc.com/2019/12/31/bitcoins-drop-to-7000-will-be-short-lasting-due-to-this-key-indicator/

#crypto #chainlinkcrypto #gbtcprice #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange

Bitcoin’s Drop to $7,000 Will Be Short Lasting Due to This Key Indicator: https://www.youtube.com/watch?v=k-sgg4si6co