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​Strong rise in major cryptocurrencies and Bitcoin price stability

2019-09-18 01:21 pm | Resource: | No Views : 24

​Strong rise in major cryptocurrencies and Bitcoin price stability The encryption market has seen its craziest day in months. With Bitcoin holding steady, the price of major cryptocurrencies was quite large. As shown, cryptocurrencies, with the exception of bitcoins and a few other currencies, have turned up vertically, indicating a bout of strength similar to the 2017 rises.
  •  The price of the most popular digital currency (Bitcoin) settled at 10250 dollars
  • Ethereum rose 7%, surpassing the major resistance to $ 212.
  • Ripple topped the key price point of $ 0.30, posting a 16% gain on Tuesday.

 On Tuesday the perfect thumbnail for the 2017 mania.

While major cryptocurrency traders were happy with these largely unexpected gains, Bitcoin investors were left to ask: What is next for the most popular cryptocurrency rate?

It is important to note that during this mini-world of 2017, Bitcoin managed to maintain its strength to some extent, achieving negligible, but non-zero, gains of 0.15% on Tuesday. This means that while Bitcoin liquidity was flowing into other currencies, this low volatility implies a strong movement in the coming days. This strong move has been widely agreed to be a step up.

Over the past few months, Bitcoin has found itself trading in a clear triangle, having seen lows higher and lower. While some took it as a bearish signal - consistently low peaks could be seen as a loss of upward momentum - well-known analyst Jacob Canfield notes that the study of the triangle from Brakowski suggests that the falling triangles in an uptrend are falling 63% of the time.

Technicians support the impending positive price action. Trader Crypto Hamster has recently relied on historical price trends to illustrate this point.

He wrote in a tweet below that the one-week RSI in Stochastic (RSI) has recently witnessed a "major bullish cross," with the trend indicator hitting lows and hinting that it wants to head higher. Why this matters: This has happened in the last 11 times, the lowest local Bitcoin price.

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