RATE Group | BTC/USD bulls too timid to launch an assault on $11,000
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BTC/USD bulls too timid to launch an assault on $11,000

20 Jul BTC/USD bulls too timid to launch an assault on $11,000

Posted at 08:26h in Bitcoin News by

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  • BTC/USD is exchanging hands at $10,631 and fighting to stay in the green as the market starts to consolidate.
  • Bitcoin technical levels are slightly positive but with a sideways inclination.

Bitcoin is hovering above $10,600 following the reclamation of $10,000 support. While the recovery from the weekly lows around $9,000 was impressive, it is clear that the market is entering a state of indecision. The bulls seem to be afraid that a failed attempt on assaulting $11,000 critical level could culminate in a bears’ field day where $9,000 support is unlikely to be supportive and further losses could touch $8,500.

Meanwhile, BTC/USD is exchanging hands at $10,631 and fighting to stay in the green with daily gains of 0.9%. The price is hitting on the Bollinger Band 1-h upper curve. However, the most likely direction the price will follow is sideways.

Also Read: Indian Minister: No Official Ban on Cryptocurrencies in India Yet

Technically, levels are slightly…

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