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Bitcoin BTC Technical Analysis: BTC/USD can not comfortably break down $4000

FX Street

Published date: 21 Feb. 2019 | 18:32

Bitcoin on Thursday was seen nursing very minor losses of some 1.5% in the latter part of the session.
BTC/USD bulls are struggling to breakdown the supply heading into the $4000 price territory.

Spot rate: 3889.81

Relative change: -1.53%

High: 3984.82

Low: 3869.07

Trend: Bearish

BTC/USD 60-minute chart

Price action moving within a descending channel formation contained within.

BTC/USD daily chart

Much supply is seen heading into and around the $4000 price territory, proving much of a barrier.

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