Bitcoin (BTC) Price Eyeing Last Line Of Defense: Buy Dips?

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There was a strong decline in bitcoin price below the $5,280 support level against the US Dollar.The price even spiked below the $5,000 support level and it is currently consolidating above $5,100.There is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).The pair could bounce back as long as there is no weekly close below the $5,000 support level.Bitcoin price started consolidating losses after a strong decline against the US Dollar. BTC is likely to recover above $5,200 and $5,280 in the near term unless the $5,000 gives way.Bitcoin Price Weekly Analysis (BTC)This past week, there was a significant rejection in bitcoin price near the $5,660 level against the US Dollar. The BTC/USD pair started a strong downward move below $5,400 after tether’s drama. The price tumbled below the key $5,280 and $5,200 support levels. There…

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