Bitcoin on Brink of Serious Downside as Risk of Losing Support Grows

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Bitcoin is at risk of seeing further downside as it tests a key descending trendline Some top traders are warning of BTC posting major losses in the coming days and weeks In the time following the tempered signs of weakness Bitcoin showed yesterday when it dipped below its key support at $7,200, the benchmark cryptocurrency has further extended this downtrend as bulls now defending against a dip below $7,000. This weakness has led BTC down to a key descending trendline that it recently broke above, with the potential loss of this level being a grim possibility. The test of this level comes shortly after the crypto broke below another key technical level and this alone could potentially be enough to catalyze some immense near-term bearishness. Bitcoin Weakens as Bulls Fail to Defend Key Support Level At the time of writing, Bitcoin is trading down just under 2% at its current…

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