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Bearish Weekly Close Could Create More ‘Buy Bitcoin’ Opportunities

DATE POSTED:July 8, 2019
Buy bitcoin more and more

Bitcoin and crypto markets have been mostly sideways over the weekend. There has been little movement in either direction for BTC and most of the high cap altcoins and all eyes have been on the close of the weekly candle.

Bitcoin Price Closes Below Resistance

The four hour chart has been showing lower highs for the past week or so however the range is tightening up which could lead to a possible breakout. With an intraday high of $11,700 and a low of $11,000 BTC remains range bound for now trading at 00.

bitcoin

BTC price 1 hour chart. Tradingview.com

Trader and analyst Josh Rager has been eyeing the charts for the next move and is leaning towards a bearish one following the close of the weekly candle.

“Bitcoin closed below the resistance while at the same time tapped the tippy top of the support near $9,614. With lower-highs on the 4 hr chart, I’d look to lean bearish as we start the week. But you know that you’d love to buy more BTC and crypto under $10k”

$BTC Weekly Close

Bitcoin closed below the resistance while at the same time tapped the tippy top of the support near $9,614

With lower-highs on the 4 hr chart, I'd look to lean bearish as we start the week

But you know that you'd love to buy more BTC and crypto under $10k :) pic.twitter.com/az2NEBXtNS

— Josh Rager     </div>
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