{"id":411614,"date":"2020-01-20T05:30:05","date_gmt":"2020-01-20T05:30:05","guid":{"rendered":"https:\/\/uniquehot.com\/?p=411614"},"modified":"2024-06-11T13:40:48","modified_gmt":"2024-06-11T13:40:48","slug":"bitcoin-bulls-have-not-given-up","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-bulls-have-not-given-up\/","title":{"rendered":"Bitcoin Is Plunging, But It’s Too Early To Say Bulls Have Given Up 2020-01-20"},"content":{"rendered":"
Bitcoin failed to extend gains above $9,200 and started a downside correction against the US Dollar. BTC price tested the $8,500 support and it could bounce back.<\/em><\/p>\n
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Bitcoin price is down more than 5% from the $9,186 high against the US Dollar.<\/li>\n
The $8,500 support area could play an important role in the coming sessions.<\/li>\n
There was a break below a major ascending channel with support near $8,830 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could either bounce back from $8,500 or extend its decline towards $8,000.<\/li>\n<\/ul>\n
Bitcoin Holding Key Uptrend Support<\/h2>\n
Yesterday, we discussed a crucial breakout pattern in bitcoin above $8,500 on the daily chart against the US Dollar. BTC price extended gains above $9,000, but it struggled to clear the main $9,200 and $9,300 resistance levels (as pointed out yesterday<\/a>).<\/p>\n