Bitcoin (BTC) faced a serious downturn this week, shedding more positions from above $9,500. Now, the leading coin is fighting for key support levels, in case it breaks down closer to the low $8,000s.
Bitcoin Address Data Suggest Strong Support Levels
But before that, based on wallets acquired at various price levels, bitcoin must break several quite strong support levels. Analysis for wallets in the money and out of it shows BTC has a high chance of bouncing from the $8,100 as a local low to the recent downturn.
Bitcoin bounced on Friday, moving to $8,659.07 after dipping twice to the $8,500 tier. At these price levels, the accounts in the money and out of the money are pretty well balanced. The latest IntoTheBlock report shows that bitcoin may put up a serious fight around the $8,600 to $8,900 level, where 873,000 addresses are…
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