Bitcoin has had another struggle this week with the price falling back to this week’s low ahead of the weekend.Upside remains limited with resistance around $9,260 acting as a strong barrier, while the downside target of $6,000 remain intact after BTC broke the 78.6% retracement level at $8523. The stochastic level has also turned lower from its current extremely overbought level, leaving further downside on the cards. Bitcoin is also in the process of forming a very negative ‘death cross’ formation which would add extra credibility to calls for lower prices.
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