Bitcoin is About to Clear a Crucial Resistance; What Analysts are Saying

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Bitcoin has seen some mixed price action as of late, with bulls currently trying to form a breakout rally as the crypto pushes towards key resistance It did face a somewhat strong rejection earlier today that has since led it lower, which could be a grim sign for what comes next One trader said in a recent tweet that BTC’s near-term outlook likely depends wholly on whether or not it can continue pushing higher and break this resistance A continued decline could lead to serious downside in the days and weeks ahead, potentially sparking a capitulatory selloff This remains a distant possibility, however, as bulls appear to be gaining increased strength Bitcoin and the entire crypto market have seen mixed price action as of late, with both bulls and bears being unable to gain any clear control over the crypto’s price action. Buyers have been showing some signs of vitality…

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