RATE Group | Investors Are Not Buying Bitcoin at Current Price, is BTC in Trouble?
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Investors Are Not Buying Bitcoin at Current Price, is BTC in Trouble?

16 Dec Investors Are Not Buying Bitcoin at Current Price, is BTC in Trouble?

Posted at 16:10h in Bitcoin News by

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Bitcoin opened Monday in a slightly-positive territory as investors’ focus shifted towards risk-on markets.

The leading cryptocurrency slipped marginally during the early morning trade. It managed to secure a weak bounce as the session matured, establishing an intraday high of $7,131.99.

The move brought the price up by 1.20 percent but failed to maximize it into a big move. As of 14:01 UTC, bitcoin was trading 0.31 percent higher at $7,133.

bitcoin, bitcoin price, btc usd,

Bitcoin continues to trend horizontally | Source: TradingView.com

Big Move Coming as Bias Conflict Grows

Bitcoin’s latest move on Monday kept its price on a flat trajectory. The cryptocurrency continues to trend horizontally while awaiting a big move to either side.

So it appears, traders are not willing to buying bitcoin at local tops – near $7,200-7,500. At the same time, they appear least confident about closing the price below its local lows – near $7,000. The conflict has effectively locked bitcoin inside a tight trading range,…

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