Bitcoin Faces Weak Technicals, But Bank of China’s Interest in BTC May Be Bullish

Bitcoin (BTC) has been incurring significant selling pressure as of late that has caused significant damage to its technical strength.
This selling pressure is coming in spite of some bullish fundamental developments that have occurred as of late, including the state-sponsored Bank of China offering what can be defined as a bullish outlook on Bitcoin.
Bitcoin Plummets Towards $9,400 and May Drop Further
At the time of writing, Bitcoin is trading down nearly 4% at its current price of $9,450, whi