Bitcoin Flirts With $12,000 As Altcoins Get Crushed. Again

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Bitcoin ventured back into the $12,000 realm briefly yesterday but could not hold on to gains there. A slight retreat has kept BTC in its range-bound channel, however, the majority of the altcoins are getting crushed once again as wider crypto confidence crumbles. Bitcoin Consolidation Continues BTC hit an intraday high of $12,130 during US trading yesterday but failed to remain there and retreated back to $11,450 before rebounding again back to $12k. While it appears that the volatility has returned, bitcoin has traded within a thousand dollar range for the past four days. According to Tradingview, bitcoin has rejected the $12k level again in a retreat to around $11,800 where it currently trades. This range is holding for now though but a failure to move above the resistance could spell a further pullback. BTC price 1 hour chart – Aside from a few spurts higher, BTC has traded…

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