Bitcoin (BTC) is down 66.50% since its highest valuation at USD 19,200 on December 17, 2017. In spite of growing short traders interest in selling BTC, analysts suggested that BTC might have reached a major support at around USD 6,000. With the BTCUSD inside the 6,000-6,600 one-week range, the consensus of technical analysts remains a “sell”. However, if BTC continues to show such resilience above 6,000, can it jump once it passes 6,600 points where a number of short traders could have placed their stop orders?
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