Crypto News 

Bitcoin Price Trapped Below $8,500 as Bears Call for a Drop to $6K

“Since the drop from $10,300, Bitcoin has been pinned in the $8,000 to $8,400 range with support at $8,000 and $7,850” writes Horus Hughes for cointelegraph.com. One can see that Bitcoin price has ridden right along the MA of the Bollinger Bands and met resistance once breaking above the upper arm in the $8,520 area.For the moment, Bitcoin appears to have stabilized and traders are hopeful that a strong move to $8,500 will occur over the coming days.A drop below the lower Bollinger Band arm at $7,338 is likely to raise concern and the volume profile visible range (VPVR) shows limited demand in this area.
 
Source: cointelegraph.com



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