Bitcoin Price Sits On A Gun Powder As $20,500 Fails; Will Bears Open The Doors?

BTC’s price slowed down after showing so much strength as it rallied to a high of $21,000 but got rejected as the price rallied downward. BTC could suffer retracement as the price breaks below the crucial support area, holding the price off from sellers with hopes of a rebound. BTC’s price remains strong on the daily timeframes as the price trades above the 50 Exponential Moving Average (EMA). The price of Bitcoin (BTC) showed some incredible price action as the price rallied from a low of $19,200 to a high of $21,000 before facing a rejection back to its key support of $20,500, where bulls had tried to hold sell-offs. The crypto market has enjoyed a bit of relief across all assets, with Bitcoin (BTC) showing great traction, rallying and dragging the market. With uncertainty in the crypto market, the Federal Open Market Committee are set to hold their meeting because most traders and investors have maintained more caution this time. (Data from Binance) Related Reading: Ripple (XRP) Sits On Key Support; Here Is What Could Happen If $0.45 Fails Bitcoin (BTC) Price Analysis On The Weekly Chart The past week has seen many altcoins continue to produce over 200% gains over the past 7 days of breaking out of their range-bound movement, as many believe more hope could be settling into the crypto space once more. The new week looked different, as many altcoins have had a good run, and Bitcoin (BTC) prices have struggled to ...