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Analyst: A break of 4,300 can create invalid situation for bitcoin (BTC) Short Sellers

Having gone over the increasingly important level of $ 4000, Bitcoin has been able to maintain above this price, but BTC has not been able to acquire any significant buying pressure that allows it to climb higher, something that can spell problems for Cryptocurrency.

An analyst is now more important to note that Bitcoin's bears prevent the bulls from pushing the BTC slightly higher, but also explained that a break of $ 4,300 would create a nasty situation for them as it would open the gates for further gains [19659003] Bitcoin (BTC) tightened slightly over $ 4,000

Bitcoin trades in its nominal value at the current $ 4,030 price, where it has traded over the past few days.

Although traders and analysts alike have suggested that a break over $ 4000 ̵[ads1]1; which was previously an incredibly strong resistance level – would cause the crypt to rise higher. Despite this, increased sales pressure has left stagnant only a hair over $ 4,000, which has not yet been validated as a new support level.

While talking to MarketWatch, Alex Kuptsikevich, a financial analyst at FxPro, traveled a rumor that has driven the entire cryptoscience community about BTC's current pricing, which looks honest as what happened in November just before crashing from $ 6,000 to $ 3,000 "The current lack of dynamics is a bit scary, as it resembles the October downturn, which ended with an impressive sales time," he explained, adding that the $ 3,900 to $ 4,000 spectrum has become a BTC bend point.

If the postulation of Bitcoin's current price-active approach to November last year is accurate,

Analyst: BTC must break over $ 4,300 in order for further profits to be plausible

Although Bitcoin is prese ntly fixed at its current price level If bulls are able to obtain a significant amount of buying pressure that pushes the crypt over $ 4,300, it may be possible to increase significantly and recover much of the latest losses.

Flood, a popular cryptocurrency analyst on Twitter, recently expressed this feeling in a recent tweet, claiming it will be "ugly" for short sellers if Bitcoin pushes past $ 4,300.

"Someone who clearly defends shorts in this area. Will be ugly for them if 4300 breaks," he explained in a recent tweet.

It is important for traders to note that earlier this month Bitcoin increased to $ 4,200 before spiraling back to around $ 3,700, which validated the previous price level as a strong area of ​​resistance. Without a significant influx of buying pressure, it is very unlikely that the BTC will be able to climb the $ 4,200-4,300 region in the near future.

When the week turns on, traders and analysts will gain greater insight into the direction Bitcoin is heading as the reactions to key price levels become clearer.

  Featured image from Shutterstock. 

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