Tensions rise as Bitcoin price reconquers $31,000, is the sell-off over?
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Bitcoin price is facing significant resistance to stay above the reconquered $31,000 level it managed to hurdle over the weekend. A breach above the 200-Week moving average could propel the bitcoin price towards $25,130 as early as Monday, June 27. The bulls have managed to recover 20% of losses since the June 18 sell-off. If $32,500 is breached, there will be plenty of opportunities in the future to join the uptrend rally targeting $80,000 and above, resulting in more than a 275% increase from the current Bitcoin price. The bears are coming out to place their bets as the bulls are progressively losing momentum. If market conditions persist, a break below $30,000 could trigger a volatility-induced sell Source