$7,700 to $7,300: Where Bitcoin Is Heading After Violent Rejection

Bitcoin (BTC) has been caught in a firm uptrend over the past several days, which has primarily been the result of the massive upwards momentum that was sparked when it tapped lows of $6,400 earlier last week.
This momentum led BTC as high as $7,700 today before it was met with significant resistance that led its price reeling back down to the lower $7,000 region, although analysts expect this movement to be fleeting and followed by an extension of this newfound upwards momentum.
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