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Bitcoin price analysis: Symmetrical triangle in play below $ 12000 mark

Bitcoin price analysis: Symmetrical triangle in play around $ 12000 mark

Short-term symmetrical triangle confines immediate moves. Sellers continue to lurk above the 12000 level. 50-hourly SMA near 11,880 offers strong support. Bitcoin, the world’s most widely traded currency, consolidates the recovery from Saturday’s low of 11,335, as the heap of resistances placed between 12,000-12,500 levels continues to cap the upside attempts.