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Bitcoin Shows Signs of Stalling After Reaching Descending Resistance
Article conforms to Standard
- The Bitcoin price has broken out from a descending channel.
- There is strong support at $9,300.
- The price is following a short-term ascending support line.
On July 8, the Bitcoin (BTC) price broke out from a descending channel that had been in place since June 1. However, the price has stalled around the breakout level, raising concerns for the possibility that the breakout was not legitimate and the price will soon reverse its trend. Bitcoin Channel Breakout The Bitcoin price had been trading inside a descending channel since it reached
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