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Bitcoin Rebound Facing Resistance: More Downsides On The Cards?

Bitcoin Rebound Facing Resistance: More Downsides On The Cards? | NewsBTC

After correcting towards the $10,400 support, bitcoin price recovered above $11,000 against the US Dollar. The price broke the $11,800 resistance, but it faced a strong resistance near the $12,400 level. There was a break below an ascending channel with support near $11,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).