Bitcoin Reaches a Juncture as Bulls Try to Thwart Selloff to $17,000
Bitcoin has been facing some immense volatility throughout the past few days and weeks, with sellers stepping up and trying to invalidate the strength seen by the cryptocurrency as they hold it below the key $19,000 level. Where it trends in the mid-term may depend largely on whether or not bulls can hold its price within a key channel that has been formed throughout the past few days.
Bitcoin Shows Signs of Strength as Bulls Set Higher-Lows One promising trend seen over the past week is the formation of higher-lows following each rejection at the cryptocurrency’s all-time highs within the mid-to-upper $19,000 region. Following its first visit towards this level last week, the cryptocurrency’s price plunged as low as $16,400 before finding support and rebounding.