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Bitcoin Is Holding a Pivotal Macro Level, But Don’t Be Bullish Yet

bitcoinist.com

To some market participants, Bitcoin’s price action over recent weeks has been purely bearish. According to a recent Bollinger Bands analysis by a crypto trader, Bitcoin remains in a decent position on a macro time frame.

One trader shared the chart below just recently, marking out the importance of $11,200 to Bitcoin over recent weeks and over the past year or so: “Target / Major resistance finally hit, if you worried about price dropping from here and using leverage then close out your position and wait for this level to be flipped support… $11,200 is a key HTF level for flipping it will not be easy.” Bitcoin’s price action over the coming weeks is likely to be pivotal, especially as it flirts between notable range lows and range highs.

Read in Full: bitcoinist.com
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Bitcoin Bitcoin
69938.9000 -1.06%
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3540.94000 -1.13%
BNB BNB
610.376000 3.55%
Solana Solana
185.450000 -1.07%
XRP XRP
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