Bitcoin Bulls Defend Critical Support; Here’s Where it May Go Next

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Bitcoin saw a notable drawdown yesterday that came about after bulls once again failed to break the $12,000 resistance level This led BTC to lows of $11,200 that were ardently guarded by its buyers, and it has since bounced slightly The ongoing bounce likely marks bulls attempt to regain control over the digital asset Analysts are noting that it may be well-positioned to see further upside now that it has confirmed the lower-$11,000 region as heavy support Bitcoin and the aggregated cryptocurrency market has seen some turbulence over the past few days. After attempting to break above $12,000 this past weekend, BTC found itself caught within a downtrend that ultimately led it as low as $11,200 overnight. This downtrend signals that the selling pressure at this key near-term resistance is growing stronger by the day. Once bulls do successfully break above this level, it is highly likely that the cryptocurrency…

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