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Bitcoin price flashes buy signal but the upside remains capped

  • Bitcoin price seems bound for a short-lived correction.
  • A spike in selling pressure could push BTC to 30,000.
  • If this support level holds, the flagship cryptocurrency could rebound to $42,000.
Bitcoin price flashes buy signal but the upside remains capped
FXStreet TeamFXStreet TeamFXStreet

Bitcoin price has presented a buy signal. Still, BTC seems bound to retrace before rising above $40,000. 

Bitcoin price to retrace before the next jump 

In the following video, FXStreet's analysts evaluate where Bitcoin price could be heading next after flashing a buy signal on the weekly chart.

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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