$7,700 to $7,200: Here’s What Bitcoin’s Rejection Says About Its Market Structure

Bitcoin has been facing some turbulent price action over the past several days and weeks, surging to highs of $7,700 this past weekend before hitting a region of resistance that has sparked a firm short-term downtrend that has led BTC down to its support in the lower-$7,000 region.
This recent downtrend has shown few signs of letting up as bull’s recently found strength appears to be faltering, which has led multiple analysts to believe that further losses are imminent for the crypto.
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