This On-Chain Metric Suggests Bitcoin is “Vulnerable” to Seeing Major Downside

This On-Chain Metric Suggests Bitcoin is “Vulnerable” to Seeing Major Downside


Bitcoin has faced some intense buying pressure throughout the past few hours, allowing its price to see some immense gains. This upside comes as Ethereum and the rest of the <a class="wpg-linkify wpg-tooltip" title="

AltcoinAltcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.

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” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin market all consolidate, with attention shifting back towards BTC.

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The cryptocurrency still has a way to go before it can see another immense rally higher. It is currently pressing up against a key high time frame resistance level that has been hampering its price action for several weeks.

Where it trends in the near-term will likely depend primarily on whether or not it can hold above this level – which exists at $16,500 – and flip it into support.

If it can firmly surmount this level, bulls could take full

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