Bitcoin Price Weekly Analysis – Downside Imminent?


Key Highlights

  • The Bitcoin price managed to correct higher this past week, but it looks like it found resistance around 237.00.
  • A bullish trend line on the 4-hours chart was broken, which can ignite a downside movement moving ahead.

Bitcoin price looks like heading lower as there was a critical break noted on the 4-hours chart.

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Trend Line Break

The Bitcoin price found support recently and traded higher this past week, as there was a nice bullish reaction noted. However, there is a major point to note, as the previous swing high of 240.00 acted as a resistance on the 4-hours chart. There was a bullish trend line on the 4-hours chart, which was breached to clear the way for more losses

Read more ... source: TheBitcoinNews