Bitcoin Likely to See Further Downside After Price Fails to Break Key Level

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Bitcoin has been facing some immense selling pressure as of late, with the resistance found within the mid-to-upper $19,000 region proving to be too much for bulls to handle Despite seeing another strong rejection here overnight, it is important to note that Bitcoin once again set another higher-high This indicates that the cryptocurrency could be on the cusp of seeing another bid at breaking through the resistance it has been struggling with The support it is now trying to establish around $19,000 is also incredibly positive, as it indicates that bulls are retaking control One analyst, however, is expecting Bitcoin to see some notable near-term downside, noting that until it gains price acceptance over $19,500, he is expecting downside Bitcoin has been struggling to maintain its multi-month uptrend, with the selling pressure found within the upper-$19,000 region stopping it from seeing any major gains throughout the past few days and…

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