RATE Group | BTC/USD momentum remains to the downside, $8000 insight
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BTC/USD momentum remains to the downside, $8000 insight

12 Nov BTC/USD momentum remains to the downside, $8000 insight

Posted at 01:25h in Bitcoin News by

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  • Bitcoin price is trading in negative territory, down some % in the second half of the session. 
  • BTC/USD is firmly within the control of the bears, as the price continues to print lower highs. 
  • Given the breach of $9000, the bears are hunting for a reversal of the jump from late October. 

BTC/USD weekly chart

The price closed the week in the red and may be heading for another push to the downside, with $8000 insight. 

BTC/USD daily chart

Daily price action remains tilted to the downside, next major support zone seen down at $8000-7800. 

Spot rate:                   8,993.28
Relative change:       -3.25%
High:                          9,068.25
Low:                           8,693.18

 

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