Have bears totally seized the initiative yet? NickSzabo4 alistairmilne Maybemore_DC WhalePanda maxkeiser
Even though most of the coins are in the green zone, the rate of Bitcoin has declined by 1.21% over the last week.
Bitcoin is trading near the local resistance level at $19,832 against the low volume. If buyers can hold the initiative until the end of the day, there is a chance to see a breakout.However, one should also pay attention to the CME gap at the $19,775 mark. On the daily time frame, Bitcoin has made a false breakout of yesterday's low at $19,667. If the decline stops, one can expect a slight upward move to the vital zone of around $20,000 next week.
On the bigger chart, the situation is worse as Bitcoin is trading below $20,000. If a breakout of the nearest support level at $19,526 happens and the candle closes below it, the next area where buyers can try again to seize the initiative is the zone around $18,900.
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