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analysis, bitcoin, btc, price, trading, usd, weekly -

Key Points Bitcoin price is under heavy selling pressure as it tumbled below the $8,000 support against the US Dollar. There is a crucial contracting triangle forming with support at $7,400 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair may extend the current decline and it could even break the $7,400 and $7,000 support levels. Bitcoin price is poised to extend declines below $7,000 against the US Dollar. BTC/USD’s correction towards the $8,000 and $8,500 levels are likely to be capped. Bitcoin Price Bearish Trend There was hardly any relief for bitcoin price as it failed...

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analysis, eth, ethereu, ethereum, usd, weekly -

Key Highlights ETH price was under immense bearish pressure and it declined below the $560 support against the US Dollar. There is a major bearish trend line forming with resistance at $575 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair may continue to slide and it could even break the $500 level in the near term. Ethereum price declined sharply during the past few days against the US Dollar and Bitcoin. ETH/USD could continue to move down below the $500 level. Ethereum Price Decline This past week, a major downside move was initiated from the $750 swing high...

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