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Turbulance In Bitcoin Price Expected For The Weeks Ahead

Emily Mason

Summary: Bitcoin is again pushing against its critical support at $9,000 after tumultuous performance last week. At the time of writing Bitcoin is trading at $9,167. While still within its long-held range between $9,000 and $10,000 its lower end trading has dampened some bulls' hopes of the currency pushing past its resistance at $10,000.  One analyst noted ...

Bitcoin is again pushing against its critical support at $9,000 after tumultuous performance last week.

At the time of writing Bitcoin is trading at $9,167. While still within its long-held range between $9,000 and $10,000 its lower end trading has dampened some bulls' hopes of the currency pushing past its resistance at $10,000. 

One analyst noted in a tweet that several days ago Bitcoin's cloud had flipped bearish, another sign of weakness. On the bright side for Bitcoin, one Bloomberg analyst said last week that Bitcoin is consolidating and that as long as the currency stays above $6,500 it could see a push past resistance levels.

By Emily Mason

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