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BTC Bulls and Bears Rivalry: Either Price goes up to $8k or goes down to $6k mark

The price value of Bitcoin may see a massive move in upcoming days as the rivalry between Bitcoin bulls and bears still continues.

The world’s leading cryptocurrency is trading in the $7000 zone. From this level, either the price of the coin goes up crossing the $7500 level or goes down touching the $6k mark. This means that the bitcoin price is still standing at the same price level.

BTC Bulls and Bears Rivalry

The fact that Bitcoin price is hanging out around $7k level shows that the rivalry between Bitcoin bulls and bears still continues. Bitcoin bulls and bears are still fighting with each other and this war is not ending. The price of the coin has been ranging between the $7300 and $7500 mark but now BTC bulls and bears may force it to leave this zone.

So keeping in view this rivalry, bitcoin price may see a huge move in upcoming days. Either bitcoin bears would push back the value of the coin toward the $6k level or bitcoin bulls would push its price up to the $8000 mark.

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BTC one-day price comparison

According to the last one-day price comparison of the coin, the world’s leading cryptocurrency has not shown much satisfactory performance and is still trading between the $7.3k and $7.5k zone. Yesterday the price of the coin was about to cross the $7k mark when it reached the $7469 figure but from this point, it suddenly came down at $7280 mark.  The last one-day price comparison chart of bitcoin is shown below:

Important Support/Resistance levels to consider

In order to see whether the price of the coin would go up or down, it is important to watch certain support and resistance levels of the coin. Following are the important resistance and support levels of the coin:

Resistance Level (R3): 7922.267
Resistance Level (R2): 7740.773
Resistance Level (R1): 7595.667
Support Level (S1): 7269.067
Support Level (S2): 7087.573
Support Level (S3): 6942.467

Bitcoin Price Value

At the time of writing, the price value of bitcoin is standing at $7,408.71 USD.

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Conclusion

Bitcoin has long been trading in its comfort zone. But soon it will see a major move that will either push its price up or will take the coin further down.

Adeline Gibbs

Adeline Gibbs is a writer and a vital contributor to Tokenhell. She always stay up-to-date with latest happenings in crypto world.

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