Bitcoin Price Prints Massive Red Candle After Failing to Break Above Key Resistance Level

Libra Coin News
Fri, 10/11/2019 - 06:06
Alex Dovbnya
Bitcoin price witnesses a sharp drop after the $8,800 resistance level was brutally rejected
Cover image via www.123rf.com

The Bitcoin price recently attempted to break above its key resistance level at $8,800 but miserably failed to do so. The top coin by market cap has shed $300 of its value in mere minutes.

At press time, BTC is changing hands at $8,453, dipping by 1.33 percent over the last 24 hours.          
 

image by coinstats.app 

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Prior to that, cryptocurrency trader Josh Rager pointed out that $8,800 would be "an important area" for Bitcoin to close above.

However, it now seems like it's out of reach for the bulls (at least in the short-term). 

It's once again an uphill battle for Bitcoin given that its price is now in serious danger of dropping below $8,000 once again. The market is waiting for the coin's next move with bated breath. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


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