Bitcoin Shot 03/11: After an aggressive squall of sales, Bitcoin Price Miracle

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    After an aggressive squall of sales, Bitcoin price consolidation is nearing

Over the past night, buyers by some miracle managed to keep the Bitcoin price level at $8,400 (1) and avoided the acceleration inside the downtrend to the ​​area around $7,800 (4).
 

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The channel itself is divided into two registers (2) and as we move closely to the upper boundary, any intended purchase can get support and return to a fair price at the level of $9,250 in current accumulation (3).

In general, volumes for sale fall (5) and without a breakdown to the level of $8,400 sales can exhaust their potential.

In this case, we are waiting for consolidation in the range of $8,400-$9,500, which certainly will play in favor of the buyers who will catch a break and have a chance to recover after such an aggressive squall of sales.

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About the author

Vadique Magenta is a financial analyst with experience in cryptocurrency trading.

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