RATE Group | Bitcoin and Altcoins Possibly Aligning For Key Reversal
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Bitcoin and Altcoins Possibly Aligning For Key Reversal

09 Dec Bitcoin and Altcoins Possibly Aligning For Key Reversal

Posted at 10:00h in Bitcoin News by

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This past week, bitcoin price started recovering above the USD 7,350 and USD 7,400 resistance levels. BTC/USD even spiked above USD 7,650, but it struggled to continue higher. However, the price failed to retain strength above USD 7,600. It is currently (09:00 UTC) consolidating above USD 7,400 and it might rise again.

Similarly, many major altcoins are showing signs of an upward move, including ethereum, bitcoin cash, XRP, EOS, BNB, TRX, ADA, and XLM. ETH/USD must surpass the USD 150 and USD 152 resistance levels to rise towards USD 162 and USD 165. On the other hand, XRP/USD is trading above USD 0.225 and it could continue to rise towards USD 0.232.

Total market capitalization

Bitcoin and Altcoins Possibly Aligning For Key Reversal 101
Source: www.tradingview.com

Bitcoin price

After a minor bearish wave, bitcoin price recovered above the USD 7,400 level and it is currently consolidating gains. On the upside, the USD 7,550 level is an immediate resistance, followed by the main weekly hurdle near USD 7,650. Any further gains could…

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