Risks of Bitcoin Plunging to $8.8K Persist Despite Strong Intraday Gains

Bitcoin retraced to the downside sharply after testing levels near $10,500 on profit-taking sentiment. Nevertheless, the cryptocurrency so far has failed to extend its bearish momentum below a certain Fibonacci support level. The 61.8 percent level of the Fib retracement graph, ranging from a swing high of $12,927 to a swing low of $4,808, serves as a firm price floor. Observers could see a downside rejection if the BTC/USD gets there; a bearish move towards […]
Bitcoinist.com

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Author: toutiao