RATE Group | Bitcoin’s Rally Losing Steam, But It May Extend To This Resistance Level
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Bitcoin’s Rally Losing Steam, But It May Extend To This Resistance Level

06 Jan Bitcoin’s Rally Losing Steam, But It May Extend To This Resistance Level

Posted at 12:44h in Ethereum News by

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Bitcoin has been in a firm uptrend over the past several days, which has allowed it to put a significant amount of distance between its current price and its recent lows of $6,800 that were set this past week.

It is imperative to note that the crypto’s rally appears to have stalled around its current price levels, leading some analysts to predict a near-term movement back down to $7,000. Other analysts, however, remain resolved that BTC will hit $8,000 before this retrace occurs.

Bitcoin’s Rally May Be Close to Being Over, So What Comes Next?

At the time of writing, Bitcoin is trading up just under 2% at its current price of $7,510, which marks a massive climb from its recent lows of $6,800 that were set during the crypto’s recent dip below $7,000.

BTC appears to have established a large trading range over the past several days and weeks, with range lows existing at roughly $6,400, and range highs at $7,800.

This range has been narrowing over…

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