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Bitcoin Bounces Back to Retest $8k

Refresh time:2019-06-13

Just when traders and analysts were expecting the drop to accelerate following the formation of a head and shoulders pattern, and Bitcoin’s biggest weekly red candle since November, it did the opposite. The volatile and often fickle nature of crypto markets is still very hard to predict which has left many scratching their heads as to where Bitcoin will go next.

Bitcoin bounced back in one swift move during late trading yesterday. From an intraday low of $7,650 BTC spiked to just above $8,000 in less than an hour. The 4.5 percent pump has kept Bitcoin within its weekly consolidation channel and the bigger correction has yet to materialize.