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Friday’s $2.25B Bitcoin options expiry might prove that $17.6K wasn’t BTC’s bottom

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cointelegraph.com

Bitcoin (BTC) has been trying to break out of a descending trend for the past week and the first attempt on June 16 failed to break the $22,600 resistance.

The second attempt at $21,400 on June 21 was followed by an 8% price correction. After two failed breakouts, the price currently trades below $20,000 and raises questions on whether $17,600 was really the bottom.The longer it takes for BTC to break from this bearish pattern, the stronger the resistance line becomes and traders are following the trend closely.

Read more on cointelegraph.com
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