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Bitcoin stuck in a range

FXStreet (Mumbai) - Bitcoin prices are stuck in a range since last week as traders await fresh triggers. The virtual currency had slumped to a 11-month low earlier this month, although losses were recovered later.

The BTC/USD is trading 1.63% lower at 378.10, down from a day’s high of USD 385.90. Moreover, the prices are stuck in the range of USD 360 to 390, as the prices failed multiple times to sustain above USD 400 levels. Elsewhere, the Bitcoin has lost 1.6% to trade at 301.35 against the Euro. The currency has also weakened by 0.83% against the Yuan today.

The LTC/USD or Litecoin is also stuck in a narrow range after having failed to breach the resistance of 4.06 in last week.

Bitcoin Technical levels

Traders should watch out for a breakout from the trading range of 360-390. Prices may rise sharply to 420 levels if the resistance of 390 is breached. On the other hand, Bitcoin may fall to 330 levels if the support level of 360 is breached.

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