Bitcoin (BTC) Attempts to Rebound After Rejection From Resistance
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BeInCrypto –
The upward movement for bitcoin came to a temporary halt on Oct 12, causing a sharp fall to the $55,000 level. BTC has bounced back some since but is rapidly approaching the top of its upward move if it hasn’t done so already.
On Oct 12, BTC reached a high of $57,839, going well into the $57,200 resistance area.
However, it was rejected (red icon) and decreased considerably. The rejection is a sign that the price was not able to break out above the $57,200 resistance area. This is the final resistance prior to a new all-time high price.
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