Analysts Expect Move to $20,000 High as Bitcoin Holds Key Supports

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Bitcoin underwent a rapid correction last evening after the coin pressed as high as $18,500 on leading exchanges. Even still, analysts remain optimistic on the leading cryptocurrency. One trader said that since Bitcoin managed to hold key support levels despite entering the low-$17,000s twice in the span of a few hours, it could move to new highs. Bitcoin Holds Key Support Levels Bitcoin underwent a rapid correction last evening after the coin pressed as high as $18,500 on leading exchanges. The coin fell by around $1,000 in the span of a minute or two, plunging from those highs to $17,400. The cryptocurrency faced strong on-chain resistance. There was also a large amount of selling pressure on crypto exchange order books. Commenting on the move, an analyst wrote: “I don’t know why so many people assume there is a “they” in moves like this. its just well-informed short time frame scalpers…

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