RATE Group | Bitcoin – Respite from the Crypto Storm or Finally the Floor?
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Bitcoin – Respite from the Crypto Storm or Finally the Floor?

16 Dec Bitcoin – Respite from the Crypto Storm or Finally the Floor?

Posted at 14:24h in Bitcoin News by

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Bitcoin closed out the day flat on Saturday, with just a 0.05% rise, following Friday’s 2.16% fall, to end the day at $3,283.3.

It was a choppy day for Bitcoin, with an early move to a morning intraday high $3,324.2 coming up short of the day’s first major resistance level at $3,376.6 before hitting reverse.

Bitcoin slid through the late morning and early afternoon to an intraday low and new swing lo $3,215.2, coming within range of the first major support level at $3,205.4 before recovering to an afternoon high $3,313.7.

With the negative bias in play through the day, Bitcoin was unable to hold onto $3,300 levels for a 2nd consecutive day, easing back to $3,200 levels by the day’s end.

For the Bitcoin bulls, steering clear of sub-$3,000 levels was key, with Saturday’s late recovery supporting a positive bias at the end of the weekend, crisis seemingly avoided for now.

With the majors in recovery, the total crypto market cap also managed to avoid falling through to…

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