Cryptocurrencies
Bitcoin at Inflection Point, With Technicals Signaling Weakness
- Bitcoin sees support at $6,500 and resistance around $7,000
- GTI trend indicator shows a narrowing of Bitcoin’s bull trend
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With Bitcoin trading below $7,000, technical indicators show it’s nearing a key inflection point.
Based on its drop over the past week, the biggest cryptocurrency is drifting in a narrow trading band, with support at $6,500 on the downside and strong resistance at $7,000 on any potential increases.