Bitcoin daily chart alert - Bulls work to stabilize prices after downdraft

February 24, 2021

New York (Feb 24)  Bitcoin-U.S. dollar prices are solidly higher in early U.S. trading Wednesday, after getting hit very hard Monday and Tuesday in the aftermath of prices hitting a record high last weekend. Bitcoin bulls  are now working to stabilize prices before chart damage occurs. So far, no serious chart damage has been inflicted in this downside correction. Further losses this week would spook the weaker-handed buyers who entered the Bitcoin market just recently. Trading the rest of this week will be extra important. More strong price pressure this week would be a clue that a near-term market top is in place.


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