Bitcoin Price Analysis: BTC Consolidating Above Key Support

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Bitcoin price corrected lower after tagging the $10,550 resistance area against the US Dollar. The price is currently consolidating above the key $8,900 and $9,000 support levels. There is a connecting bullish trend line forming with support near $9,120 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair is likely to rise again as long as there is no close below the $9,100 and $9,000 supports. Bitcoin price is trading with a positive bias above $9,000 against the US Dollar. BTC could face resistance near $9,725 if it climbs higher in the near term. Bitcoin Price Analysis This past week, bitcoin price started a downside correction after tagging the $10,550 resistance against the US Dollar. BTC corrected lower below the $10,000 and $9,725 support levels. Moreover, there was a break below the $9,500 support, but the price stayed above the 55 simple moving average (4-hours).…

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