This Technical Structure Signals Bitcoin is Coiling Up for a Major Downside Break

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Bitcoin does not appear to be in a good position at the present moment Bears are currently attempting to push it below its long-held support at $9,000 This comes just a week after the crypto posted two consecutive rejections at $9,400 Its inability to push higher coupled with mounting selling pressure suggests downside could be imminent Analysts concur with this notion, with one pointing to a technical structure as a reason why he is anticipating further downside Bitcoin and the aggregated crypto market are flashing some major signs of weakness. After making multiple attempts to climb towards the upper-end of its long-held trading range, BTC faced multiple rejections at $9,400 that halted its momentum. All the while, altcoins have been able to post notable gains throughout the past several days and weeks, with many significantly outperforming Bitcoin. As for where the market may trend next, analysts are noting that the…

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