RATE Group | Bitcoin (BTC) Ethereum (ETH) Price Analysis: Here’s What May Signal a Run to $10,000
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Bitcoin (BTC) Ethereum (ETH) Price Analysis: Here’s What May Signal a Run to $10,000

31 Jul Bitcoin (BTC) Ethereum (ETH) Price Analysis: Here’s What May Signal a Run to $10,000

Posted at 19:10h in Ethereum News by

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In Bitcoin (BTC), we have seen another sharp and sudden dip over the past 24 hours that was very quickly bought back up by traders pressing a continuation of the recent trending action. The real question now is this: what does this say about the sustainability of the trend now in place over the past three weeks?

As we take a close look today at Bitcoin (BTC) and Ethereum (ETH), we want to analyze this recent dip and how it appears in the context of the past week of action, which includes another similar dip and recovery.

Bitcoin (BTC)

Price Analysis

  • High: $8216
  • Low: $7640
  • Major Resistance Level: $8,500
  • Hourly MACD: Continued Accumulation
Chart courtesy of tradingview.com

As we have noted, Bitcoin (BTC) has been out in front of the cryptocurrency complex during this recent bout of strength. There should be little doubt that this is still the leader in the space.

As we watch this recent upward trend evolve and mature, we have seen several sharp shakeouts…

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