Bitcoin Claims Crucial Level, But Break Below It Could Lead to $16,000

Bitcoin and the rest of the crypto market are currently rallying, with Bitcoin’s recent selloff doing little damage to the market as bulls aim to erase all of the losses. One trader is now noting that holding above the upper-$17,000 region is critical for the market to move higher.

The strength seen by the aggregated market as of late does seem to indicate that further upside could be imminent and that this latest selloff was simply another “buy the dip opportunity.” One trader explained in a recent tweet that Bitcoin needs to hold steady above $18,000 for the market to maintain its momentum.

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