In this unpredictable market, the community remains bullish.
Current support/resistance: $8'000/$8'300
As discussed at the beginning of the week, a violent movement with higher volumes has been observed over the past two days. This accelerated downward trend is driven by the fact that the price of Bitcoin has fallen below the 20-day moving average. An indicator that is followed by many traders. The momentum is bearish and if the level at $8'000 does not hold, it is likely that the price will test $7'700 again. This level has to be followed with attention. Indeed, if this level does not hold. The $6'000 region will be getting closer quickly.
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