RATE Group | Market Mostly Trades Sideways as Bitcoin Price Hovers Around $7,200
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Market Mostly Trades Sideways as Bitcoin Price Hovers Around $7,200

27 Nov Market Mostly Trades Sideways as Bitcoin Price Hovers Around $7,200

Posted at 04:45h in Bitcoin News by

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Tuesday Nov. 26 — Most cryptocurrencies are back to trading sideways, including Bitcoin (BTC) which has not been able to find higher trading levels in the past 24 hours.

Cryptocurrency market daily overview. Source: Coin360

Bitcoin started the day at the $7,140 price mark, at which point the world’s largest crypto coin found an intra-day high of $7,320, before moving down again towards its current trading price near $7,190. After an unimpressive 24 hours, BTC is showing a minor gain of 0.05% on the day.

BTC is still down around 12% from the weekly open of $8,200, while, over the month, investors have lost close to $2,000 per coin.

Bitcoin daily price chart. Source: Coin360

Most bearish outlook puts BTC at $5,400

According to regular Cointelegraph contributor Filb Filb, the support at $6,500 was more than enough for the bulls. However, he also pointed out that there was a possibility that Bitcoin will need to do more business in the $6K price region, adding:

“The most bearish…

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