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Bitcoin Faces Macro Strain and Technical Headwinds — Is a Fresh Low Coming?

Pelican Press

By Pelican Press,
in World News

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Bitcoin rose as high as $115,800 in an attempt to recover after last week’s sharp decline; however, it could not maintain this level. The resistance encountered at the beginning of the week corresponded to the upper limit of the bearish channel that has been followed since July. The failure of the upside breakout increased the selling pressure again and led the price to retreat rapidly.

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