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Bull Strength Dwindles in BTC as Technical Indicators Point Southwards

Published 2022-12-11, 06:17 a/m
Bull Strength Dwindles in BTC as Technical Indicators Point Southwards

  • According to recent pricing analyses, the Bitcoin market is on the rise.

  • Technical indications warn traders to exercise care in the near term.

  • During the ascent, BTC prices will face opposition at $17,216.83.

At the start of the day, the Bitcoin (BTC) market was dominated by bears, with prices plummeting to a low of $17133.37. Bulls, on the other hand, came in to reject this unfavorable trend, raising the price by 0.18% to $17,178.20. Throughout the day, this bullish trend established support around $17,120.68 before encountering resistance at the intraday high of $17,216.83.

During the upturn, the market capitalization jumped by 0.19% to $330,307,633,679, but the trading volume dipped by 28.30% to $12,870,201,575 reflecting that buyers are not matching sellers’ expectations.

The post Bull Strength Dwindles in BTC as Technical Indicators Point Southwards appeared first on Coin Edition.

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