Bitcoin struggling with breaking resistance level

Bitcoin continues to struggle with breaking through the potent resistance level at $47,500.
Source: Tradingview, Coinbase

Bitcoin is currently trading just below the $47,500 resistance level, which has been an important technical area since early 2021.

Just like we anticipated last week, $45,000 has acted as a new support level for bitcoin, as the price has not fallen below this level during the previous seven days.

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