Bears Capitalize on Uncertainty as Bitcoin Price Drops Below $7,30048.2

Following a strong weekly Bitcoin Price advance by the Bulls, the Bears are back in control, rejecting price at the 50-week Moving Average, triggering six consecutive red candle days, breaking the price down towards the previous support at $7,300.

The Bulls will need to make a strong push over the weekend to rescue price from falling back towards the $6,800 range, where price initially broke out from an Inverse Head and Shoulders bottom.

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