Bitcoin Price Weekly Analysis – Retest of 220.0?

Bitcoin Price Key Highlights

  • Bitcoin price continued to weaken during this past week as sellers remained under control and pushed the price lower.
  • The price already declined towards 220.00, and the bearish pressure increase more losses are possible.

Bitcoin price remained under the bearish pressure this past week, which ignited a downside reaction.

We highlighted this past week that the price could continue to trade lower, and it is what happened. There was a monstrous decline in the Bitcoin price, as sellers were in control throughout the week. We also highlighted a bearish trend line this past week, which played its part well in acting as a resistance for the price. It is very likely that the same trend line might continue to act as a barrier for buyers. There was a major downside reaction noted this past week, as the price traded lower towards 220.00.

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Heading towards 220.0?

We highlighted a bearish trend line recently, and it looks like it acting as a major barrier for buyers. There are many failures noted around the stated level and it is likely that the trend line could act as a

Read more ... source: TheBitcoinNews