Bitcoin Plunges as Bears Roar, But Here’s Why Analysts Aren’t Too Concerned

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Bitcoin has seen some mixed price action as of late, with bulls attempting to push it higher yesterday before it saw a strong rejection that sent it tumbling lower The crypto is still trading firmly within the trading range that it has been caught within throughout the past several weeks, and not much has changed from a structural perspective Despite the apparent intensity of this selloff, one analyst is noting that he isn’t too concerned with BTC’s outlook from a technical perspective He is specifically noting that there’s a strong possibility upside is imminent due to its rally stalling right before it tapped one key level Bitcoin has been largely trading sideways throughout the past few weeks. Both bulls and bears have been unable to gain any firm control over the cryptocurrency’s price action as it bounces between lows of $30,000 and highs of $40,000. Where the entire market trends…

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