Bitcoin is Coiling Up for a Massive Downside Movement; Here’s Why

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Bitcoin is now inching down towards its crucial near-term support at $9,000, with bears placing enough selling pressure on the crypto to jeopardize its consolidation phase BTC has broken below this level on previous occasions, although each journey into the upper-$8,000 area has proven to be short-lived There now appear to be multiple signs suggesting that BTC is preparing to make a massive downside movement This move, should it happen in the near-term, could pierce a crucial technical support level, and kick off a mid-term downtrend Bitcoin and the aggregated cryptocurrency market are beginning to show some signs of weakness after a week-long bout of incredibly tight trading around $9,000. BTC is now resting just a hair above its range lows at $9,000, and buyers are ardently attempting to thwart a decline beneath this level. It is essential to keep in mind that this level has been broken on multiple…

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