Bitcoin Reaches Critical Level as Bulls Attempt to Spark Fresh Uptrend

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Bitcoin’s price has been stuck within a macro consolidation phase for the past several months This consolidation has led to the formation of a trading range between $10,000 and $12,400, with bulls and bears with being unable to break above or below either of these levels One analyst is now noting that data seems to suggest that BTC is currently trading at a pivotal level for its future Although $20,000 is often looked upon as a level of macro importance, one trader is stating that this level only has importance from a psychological level He contends that the mid-to-upper $11,000 region is the level that is truly critical for Bitcoin’s macro outlook Bitcoin and the aggregated crypto market have been caught in the throes of one of the most intense macro consolidation phases it has seen in quite some time. The benchmark cryptocurrency has been trading between lows of $10,000…

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