Bitcoin is Still Struggling to Outbreak the Sell-Off Pressure at $10,500

Bitcoin has stopped slumping in price and rallied trying to move up against $10,500 the new resistance level during the past two days. However, the bullish momentum seems not strong enough to reverse the strong sell-off pressure on Bitcoin. A further correction might occur if the price of Bitcoin is still moving vulnerable and not exciting which cannot attract investor’s interest. Therefore, a further down correction to $8,800 is possible if Bitcoin’s price can not outbreak the resistance level at $10,500 in the short term.

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