Bitcoin Could Retrace to $9,000 if it Breaks Below This One Key Level

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Bitcoin is now hovering within the mid-$11,000 region following the intense bout of selling pressure it witnessed yesterday The decline beneath $11,200 was quickly absorbed by bulls, although BTC remains in a somewhat precarious position One analyst is pointing to massive support just below where the crypto is currently trading as a bullish factor That being said, other traders are cautioning that BTC is getting closer to a key level that could lead the crypto down to $9,000 if it is broken below Bitcoin and the aggregated cryptocurrency market is now facing some turbulence as bulls and bears strive for control. This caused BTC to plunge as low as $11,150 overnight in a sharp selloff that ultimately was followed by a strong rebound. Although the benchmark digital asset is now consolidating within the mid-$11,000 region, it still appears to be at risk of seeing further downside. One analyst is noting…

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