Analysts Target Decline to $11,500 as Bitcoin Begins Diving Lower

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Bitcoin witnessed an intense selloff today that came about after bulls once again failed to break above $13,800 The selling pressure here has proven to be quite significant, and buyers’ inability to surmount it signals that it may mark a local top The crypto is now trading back down where it has been for the past week in the lower-$13,000 region Both bulls and bears have been unable to gain firm control over its short-term trend One trader is now noting that a decline towards $11,500 could come about in the near-term He believes that this decline will be followed by immense upside Bitcoin and the rest of the cryptocurrency market have been caught within the throes of a sideways trading bout throughout the past few days and weeks, with buyers and sellers unable to control its mid-term trend. Last week, the cryptocurrency was able to rally as high as…

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