RATE Group | Bitcoin Price Rejected Back Below $9000, Is a Retest Of Lows Up Next?
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Bitcoin Price Rejected Back Below $9000, Is a Retest Of Lows Up Next?

28 Jan Bitcoin Price Rejected Back Below $9000, Is a Retest Of Lows Up Next?

Posted at 19:16h in Bitcoin News by

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Bitcoin price has been on an absolute tear in 2020, growing 28% in value since the clock turned past midnight and into the new year.

But the latest rally is now in jeopardy after Bitcoin price we rejected back below $9,000, and it could result in yet another retest of local lows to confirm them as resistance turned support.

Bitcoin Price Rejected From $9000 As Rally Comes to An End

In late December 2019, Bitcoin may have put in its local downtrend bottom at $6,400. Since then, the crypto asset went on a powerful rally that has resulted in over 42% returns for investors who were fortunate enough to have buy orders set for the low.

Related Reading | Current Bitcoin Trend is Repeating the Bull Run to $20k in 2017, And It’s Mega Bullish

The month-long bullish rally has restored confidence in bullish crypto investors, and not only has it caused Bitcoin price to surge but the altcoin market as well.

But that rally and confidence may have come to an abrupt end today, as Bitcoin price was…

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