Bitcoin Holds Above Crucial “Ichimoku Cloud” as Analysts Remain Optimistic

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Bitcoin has entered a consolidation phase within the lower-$11,000 region This comes shortly after bears stepped up and catalyzed a swift rejection at $12,000 this past weekend The cryptocurrency is now flashing some signs of weakness as it hovers above its key support at $11,000 Bulls have been able to hold it above multiple crucial levels throughout the past couple of days This is leading some traders to remain firmly bullish on the benchmark cryptocurrency’s near-term outlook. Bitcoin and the aggregated cryptocurrency market are currently consolidating after bearing witness to some explosive volatility this past Saturday. Bitcoin, after hovering in the lower-$11,000 region, rallied as high as $12,000 in a matter of minutes following Ethereum’s explosive surge to $415. These highs were not hit for long, however, as the selling pressure seen here ramped up and sent both BTC and ETH reeling lower. Bulls were able to guard against a…

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