Bitcoin Visits Historic Support Level That Could Bolster its Near-Term Price Action

Bitcoin (BTC) and the aggregated crypto markets have been experiencing an extended bout of consolidation that has come about shortly after the massive bull run that sent Bitcoin to highs of $10,600 before it retraced slightly to its current price levels.

Analysts are now noting that Bitcoin has reached a high-time-frame support level that could bolster its price action in the near-term, and its overnight movement to the lower-$8,000 region on CME filled an open gap and may further add to the bullish narrative that is currently unfolding amongst analysts.

At the time of writing, Bitcoin is trading up roughly 1% at its current price of $9,370, which marks a slight climb from its daily lows of $9,200 that were set overnight after Bitcoin’s bulls lost their strength after attempting to push BTC up to $9,500. Read More...