Bitcoin Shows Signs of Strength, But These Factors May Bolster Bears

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Bitcoin is currently attempting to break above $12,000, with the cryptocurrency rallying towards this level as Ethereum sets fresh 2020 highs at $475 BTC’s current strength has yet to lift it past the key resistance it faces in the near-term at this level A failure to surmount it would be grim for its near-term outlook, and potentially spell serious trouble for where it goes next One analyst believes that there are a few factors that all spell trouble for BTC’s near-term outlook His bear-bias is validated by the cryptocurrency’s 50-day moving average, which currently sits around $11,000 and may be a “magnetic” force that draws its price lower Bitcoin and the aggregated cryptocurrency market has been flashing some signs of strength today, with ETH rallying to fresh 2020 highs in an explosive movement while BTC remains caught below $12,000. Although the $12,000 resistance is quite strong, some investors speculate that…

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