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Do or Die For Bitcoin Bulls: Here’s What Could Trigger Short Term Rebound

Bitcoin is facing a crucial resistance near $8,200 against the US Dollar (as discussed yesterday). BTC price could trade in a range for a few sessions before the next move.

 ▪ Bitcoin is trading in a bearish zone below the $8,200 resistance area against the US Dollar.
 ▪ The bulls are putting up a fight to defend the $7,800 and $7,700 support levels.
 ▪ There is a key contracting triangle forming with resistance near $7,950 on the hourly chart of the BTC/USD pair (data feed from Kraken).
 ▪ The pair could make another attempt to surpass the main $8,200 resistance area in the near term.