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Bitcoin Price Analysis: Bears Struggle To Gain Momentum



The most recently formed rising wedge shown in my previous bitcoin price analysis broke to the downside less than 24 hours ago. Despite the bearish break-down there seems to be no real bearish momentum, despite the large selling volume. Price action seems to have formed strong support at POC (Point of Control) around $11,300 and could be the level in which bitcoin price pivots and regains bullish momentum. The newly formed uptrend could propel price levels back towards the yearly high of $13,900.

Bitcoin Price 4 Hour Analysis
BTC 4 Hour

On the 4 Hour bitcoin price analysis chart for BTC we can ...

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