Bitcoin still struggling with $20,000

We’re repeating the analysis from the past weeks as bitcoin struggles to overcome the $20k level and is now forming a tight range between ~$18-$20.5k.

This week’s analysis is more or less unchanged from last week's. Bitcoin once again tried to stabilize above the $20,000 level but quickly dropped lower again.

As we outlined last week, the last month has established a strong resistance level around the $20k level. As already mentioned, this resistance was not breached, and the price is now heading toward the range support again.

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