RATE Group | Bitcoin Price: Bulls Defend ‘Make It Break It’ Support Level at $8,000
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Bitcoin Price: Bulls Defend ‘Make It Break It’ Support Level at $8,000

20 Nov Bitcoin Price: Bulls Defend ‘Make It Break It’ Support Level at $8,000

Posted at 00:26h in Bitcoin News by

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This morning, Bitcoin price made another push to the low $8,000 range but was unable to penetrate below the former resistance turned support and set a new local low.

Are bulls in the clear, or will bears once again regain control and push the price of the first-ever cryptocurrency further into a downtrend, putting any remaining gains from the entire 2019 rally at risk?

Bitcoin Price Fails to Break Below $8,000 After String of Red

Yesterday, Bitcoin price broke below $8,500 and before 24 hours was up, another $500 was erased from the value of the leading cryptocurrency by market cap.

Bears were able to keep the selling momentum going, taking Bitcoin price back down to the low $8,000 range. Bulls, however, were able to defend the critical support area, protecting the crypto market from further drawdown.

Related Reading | Uncommon Bitcoin Metric Suggests Massive Profit Taking Is Underway

The first-ever cryptocurrency is currently at an important junction, and one that may define the days…

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