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Bitcoin Price: Doji Candle Forming for BTC Today

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Bitcoin Daily Chart – Source: Tradingview.com

Bitcoin met resistance at $3476 during a brief recovery from the bearish start to the week.

The price has since started to trade away from the $3476 resistance and is currently forming a Doji candle.

A Doji candle is a candle where the open and the close are around the same point and typically reflect uncertainty from traders.

Bitcoin 4-Hour Chart – Source: Tradingview.com

Despite price forming a Doji candle today, it has been making significant movements within the range it has been trading in.

Price has met resistance at $3476 which was a former support level.

Price has also been meeting support at $3353 which has also been a level of support in the past.

Price briefly formed a 2019 low below $3353, but it quickly rose back up.

Another drop and close below $3353 may result in price depreciating to the point of the low last year at $3122.

The current trading in a range we are seeing increases the likelihood that the next significant move will be a bearish one.

Key Takeaways:

  • Doji is forming on the daily chart reflecting uncertainty from traders.
  • Price has been trading between a range from support at $3353 to resistance at $3476.
  • Another drop below $3353 may result in price moving towards the 2018 low at $3122.

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Bitcoin Price: Doji Candle Forming for BTC Today was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.