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Cryptocurrency and Bitcoin facing a sudden flow of a buying trend

2019-08-01 10:33 am | Resource: News | No Views : 17

Cryptocurrency and Bitcoin facing a sudden flow of a buying trend Bitcoin recently rallied and breached the resistance area of ​​$ 10,000 against the US Dollar. The price tested the resistance area at $ 10,200 before retreating, but the declines remain supported near $ 9,850 and $ 9,800. , And is currently correcting the gains. After the cryptocurrency prices gained higher than the resistance at $ 9800 and the average simple movement per 100 hours.

 Bitcoin and the bundled encryption markets recorded a sudden buying pressure yesterday which allowed it to rise significantly. This bullish momentum came after a long period of downward pressure, which put at risk the upward momentum of the markets throughout the first half of 2019. Analysts now note that this recent movement that pushed Bitcoin to more than $ 10,000 has led to a dramatic shift in market sentiment, May be negative for the encryption markets, which ultimately leads to the continuation of the recent sell trades.

Bitcoin exceeds $ 10,000, but additional losses may be imminent

At the time of writing, Bitcoin is trading at about 4% at its current price of $ 103535, well above its daily low of just over $ 9,500.

The price rally came after a long period of selling pressure, which first started in late June when Bitcoin failed to break above $ 13,800 and continued earlier this month when Bitcoin rose quickly to $ 11,000 before facing a quick rebound that led to a fall. Analysts now note that the recent price increase has added some technical strength to the cryptocurrency, but they also warn that there may be another slight dip before BTC consolidates its position within the five-digit price zone.

cryptocurrency trades
  • Bitcoin rose 0.5% to $ 9961.8.
  • Etherum 0.40% rose to $ 214.79.
  • The XRP rose 0.26% to 0.31866.
  • While Litecoin traded 0.7% to $ 97.128.

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