RATE Group | Altcoin Market Continues To Consolidate
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Altcoin Market Continues To Consolidate

16 Oct Altcoin Market Continues To Consolidate

Posted at 07:30h in Cryptocurrency News by

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– Altcoin market continues to move higher

– Major breakdown and breakout conditions ahead

Big bear flag failing to move price lower

Mixed bullish and bearish conditions.

Last week I wrote about the altcoin market breaking out of the bear flag that it had been trading against ever since late September. On October 9th, the altcoin market shot outside of the daily bear flag to tag the daily Kijun-Sen as well as the bottom of the Kumo (Sekou Span A). The altcoin market then retreated into the bear flag and was threatening to breach that flag and show a continuation move south. Buyers stepped in and supported price on October 11th and prevented a further breakdown in price. Buyers have continued to support price through the 12th, 13th and today (October 14th, 2019). However, the overall trend remains bearish and until there is a sustained breakout above the bear flag channel, this…

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