Oct 15, · Bitcoin (BTC) dropped lower on Thursday, with dimming stimulus hopes and a resurgence in the coronavirus cases in the US and Europe casting doubts over the global economic recovery. The BTC/USD exchange rate established an intraday low at $11, as of around UTC, suggesting that it could correct further lower in the US trading session ahead. The most recent descending triangle took place after Bitcoin price ran headfirst into $13, Lower highs eventually led to a lower low, and a downtrend climaxing on Black Thursday this March. The crypto market rebounded into the rest of the year, but the risk ahead has investors pausing. Bitcoin’s Downtrend Could Soon Reverse as Analysts Eye Move to $18, by Cole Petersen. 6 mins ago. in BTC. Reading Time: 2min read Listen to Article. Bitcoin has seen some rocky price action as of late, with bulls and bears battling for control over the cryptocurrency’s mid-term outlook. So far, this has resulted in the cryptocurrency.
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In the last bear market, Bitcoin had three bottoms. Could the same happen again, starting with a breakdown of the descending triangle potentially forming on the daily? I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent.
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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies. All Rights Reserved. Advertise Submit a Press Release. All Rights Reserved. Advertise Submit a Press Release. Home Technical analysis BTC. Reading Time: 2min read. Reloads and free spins available every day, for every player, in mBitcasino Crypto Autumn Bonanza!
Play Now! Tags: bitcoin btcusd cryptocurrency xbtusd. Tweet Share. Could you be next big winner? Yashu Gola Yashu Gola is a Mumbai-based finance journalist. Related Posts. Premium Partners. Top Brokers. Bitcoin and the entire crypto market have been rallying over the past day. This strength came about following a prolonged period of sideways trading and slight technical weakness. One analyst concurs with this assessment, noting that the downtrend has been firmly broken and that upside is imminent.
This push higher allowed the cryptocurrency to shatter a critical resistance level, and its price has been stable above it for quite some time now. Could you be next big winner? I consent to my submitted data being collected and stored.