BTCUSD Touches Resistance
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
Hi
It is clear why bears see opportunities to enter this market; the price is at a resistance level and could drop to 16K or lower.
But there is still a bullish reason in the 16880 area that could prevent bearish momentum. We could see a minor rejection of up to 3, followed by a return to 17K .
Clearly, 17k is significant enough that a strong pullback from that area is optimistic for bulls.
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