Bitcoin Indicator Shows Price Could Hit $7,100 as Resistance Mounts

Bitcoin has further extended its long-held bout of sideways trading as it hovers within the lower-$9,000 region It is continuing to flash some signs of weakness, however, as its price has been unable to garner any upwards momentum This weakness has caused the one indicator to suggest that the crypto could be positioned to see a swift movement to lows of $7,100 if it is unable to garner any heavy buying pressure This comes as the crypto’s sellers begin flipping a previous support level into resistance, signaling that further short-term…

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Bitcoin Could Recover Significantly And Only 1 Thing Is Holding It Back

Bitcoin is slowly moving higher and trading above the $9,100 level against the US Dollar. BTC could start a strong upward move if it clears the $9,300 and $9,340 resistance levels. Bitcoin is showing a few positive signs above the $9,000 and $9,100 levels. The price is trading above the 100 hourly simple moving average, but it is still well below $9,300. There was a break above a crucial bearish trend line with resistance near $9,170 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…

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