The Bitcoin (BTC) price created a massive bearish engulfing candlestick on August 2, possibly indicating that the upward move has ended and a corrective period awaits. The long-term movement, however, still looks healthy. Bitcoin Fails to Close Above Long-Term Resistance During the week of July 27-August 3, the Bitcoin price increased considerably, going from a low of $9,917 to a high
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Source: https://beincrypto.com/bitcoin-suffers-enormous-drop-after-breaking-12000/