Bitcoin Indicator Shows Price Could Hit $7,100 as Resistance Mounts

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Bitcoin has further extended its long-held bout of sideways trading as it hovers within the lower-$9,000 region It is continuing to flash some signs of weakness, however, as its price has been unable to garner any upwards momentum This weakness has caused the one indicator to suggest that the crypto could be positioned to see a swift movement to lows of $7,100 if it is unable to garner any heavy buying pressure This comes as the crypto’s sellers begin flipping a previous support level into resistance, signaling that further short-term weakness is imminent Bitcoin’s lackluster price action isn’t letting up, as the cryptocurrency is currently caught within a bout of trading between $9,000 and $10,000. This range has been established over the past couple of months, and each break above or below it has been fleeting. It is a strong possibility that this consolidation phase is BTC’s way of “coiling…

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