Bitcoin Price Weekly Analysis – BTC/USD is Under Bearish Pressure

Key Points
Bitcoin price made a sharp downside move and traded below the $12,000 support against the US Dollar.
There was a break below two important bullish trend lines with support near $17,800 on the 4-hours chart of BTC/USD (data feed from SimpleFX).
The pair is currently recovering, but it is facing a major resistance near the $15,500 level.
Bitcoin price declined sharply toward $10,000 against the US Dollar. BTC/USD is currently recovering, but it is facing a lot of selling pressure.
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