Bitcoin Magazine Bearish Bitcoin Outlook: Resistance Wall at $112K Blocks Recovery to $122K

Bitcoin Price Weekly Outlook

The bears came out in full force once again last week as bitcoin took out last week’s low at around $105,000 to hit $103,000 and change. We again saw a nice bounce from the support zone down there, but so far the bounce is weaker than we experienced the week prior. The bulls are back on their heels once again and looking like they will remain subdued for the foreseeable future. Last week gave us a closing price of $108,717, firmly below the 21 EMA support level we were hoping to hold, and providing further conviction to the overall bearish bias.

Key Support and Resistance Levels Now

Overhead resistance is now looking extremely formidable on the chart. We have a wall

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