RATE Group | Bitcoin – Early Support Brings $6,700 into Play for the Bulls
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Bitcoin – Early Support Brings $6,700 into Play for the Bulls

22 Oct Bitcoin – Early Support Brings $6,700 into Play for the Bulls

Posted at 06:18h in Bitcoin News by

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Bitcoin gained just 0.05% on Sunday, following a 0.93% rise on Saturday, to end the day at $6,590.1. Gains through the weekend brought to an end 3 consecutive days of losses to leave Bitcoin up 4% for the week, the upside coming from Monday’s 6.3% rally.

A relatively choppy day saw Bitcoin hit an early morning intraday high $6,660.8, breaking through the first major resistance level at $6,627.13 to come up against the second major resistance level at $6,669.08 to ease back from a run at $6,700 levels.

Range bound through mid-morning, Bitcoin broke back through the first major resistance level at $6,627.13 in the late morning and early afternoon, an early afternoon $6,655.2 the last bullish move of the day, with a broad based market sell-off leading Bitcoin to a late in the day intraday low $6,581.2.

For the Bitcoin bulls, the only good news was Bitcoin’s hold above the day’s first major support level at $6,527.13, while Bitcoin’s struggles to hold on to $6,600 levels…

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