Bitcoin Bulls Get Rejected As $16,700 Proves Too Strong; Here Is What To Expect

Bitcoin Bulls Get Rejected As $16,700 Proves Too Strong; Here Is What To Expect


BTC’s price is rejected from breaking above $16,700 as this region is too strong for bulls.  BTC’s price remains bearish in the high timeframe as most traders and investors remain cautious.  BTC’s price bounces from a low of $15,500 on the daily timeframe as the price reclaims $16,500 as price struggles to break higher above the 50 Exponential Moving Average (EMA)

The price action demonstrated by Bitcoin (BTC) in recent times has been better than the previous week as the market suffered from some price decline affecting most crypto assets. Despite the relief bounce from Bitcoin (BTC), the price still trades below the key region of interest that would attract the attention of many buyers. The Domino effect of the FTX saga and

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