Today's Close Could be Pivotal for Bitcoin's Price

Bitcoin’s (BTC) close today will likely decide the short-term trend in prices. The leading cryptocurrency snapped a three-day losing streak on Thursday as the 26 percent sell-off witnessed in the last three weeks was looking overstretched. What’s more important is that BTC traded yesterday within the high and low range of the previous day, indicating the bears have likely run out of steam and the bulls are still reluctant to enter the market at these levels. It seems safe to say that the bitcoin market has become indecisive in the last 24 hours. However, a stronger corrective rally could be seen over the weekend if prices find acceptance above the previous day’s high of $6,628, though it won’t be an easy task. The cryptocurrency is currently trading at $6,350 on Bitfinex – down 4 percent from the highs seen yesterday. Daily chart As seen in the above chart, BTC

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