RATE Group | Bear Market Isn’t Over Yet, But $7.6K May Change This
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Bear Market Isn’t Over Yet, But $7.6K May Change This

20 Dec Bear Market Isn’t Over Yet, But $7.6K May Change This

Posted at 16:03h in Bitcoin News by

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Bitcoin (BTC) is trading around $7,200 on Friday, the level that was found following a large swing to the upside on Wednesday. 

As we move into the weekend, the majority of cryptocurrencies are also trading higher. Nevertheless, Ether (ETH) is still struggling to regain $130 while XRP has been unable to reclaim $0.20 after the rejection on Wednesday.  

Bitcoin dominance inches higher

This is highlighted in Bitcoin dominance, which is now at 68% and continues to threaten to take the 70% level, which continues to look like a possibility as Ethereum continues to lose market cap share.

Cryptocurrency market daily view

Cryptocurrency market daily view. Source: Coin360

Bitcoin is currently ranging between long term weekly resistance of $7,600 and the mid $6,000s.  

The 15% swing off the lows on Wednesday engulfed prior days of trading but failed to break through the declining resistance, which has defined the month of December. 

Currently, the BTC price is finding support in the middle of this trading range above…

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