Bitcoin At Crossroads With Its Biggest Bearish Fundamental: US Treasury
Bitcoin was heading upwards on Friday in anticipation of closing another week in gains (including the weekend). The BTC/USD exchange rate continued its upside momentum as it jumped $18,000, a psychological resistance level, all over again. At best, the pair wobbled between meager sell-off and buy-out attempts the entire day while maintaining a strong price […]
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Bitcoin is once again at a critical technical crossroads, with a widely discussed chart structure suggesting that a sharp decline could be on the table. A recent analysis shared on X by crypto trader @0xPepesso points to a classic bearish continuation pattern that, if confirmed, could erase as much as $30,000 from current price levels. […]
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Despite the fact that volatility picked up early last week on a rally above $615, since the breakout the market has settle back into its old, stagnant ways. We think it is a good sign for the longer term health of the market that price has been able to stay above near term support, however the technical outlook remains unfavorable for now. Bitcoiners got more good news concerning scaling this weekend as the SegWit code has now been fully tested and is ready to deploy in the next Core update (set for mid-November). While we may not see the benefits from it until later this year or early....
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