Here’s the Crucial Trading Range That Will Determine Bitcoin’s Macro Outlook

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Bitcoin has been caught in a firm consolidation phase but is now showing some signs of weakness The cryptocurrency is currently pushing down towards its key support within the mid-$11,000 region as its bulls falter There is currently a massive trading range that analysts are closely watching Which of the range boundaries that the crypto breaks above – or below – first will likely offer significant insight into its near-term trend Some respected traders are also gearing up to short the upper end of this trading range This is a sign that they expect it to be insurmountable in the near-term Bitcoin and the aggregated cryptocurrency market has been struggling to maintain the momentum seen throughout the past several weeks. For BTC, its multi-week rally first began slowing last week when it saw a sharp rise to $12,000 before facing a rejection that sent it reeling down to $11,000. This…

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