RATE Group | Bitcoin [BTC/USD] and Bitcoin Cash [BCH/USD] Technical Analysis: Coins left stunned afte…
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Bitcoin [BTC/USD] and Bitcoin Cash [BCH/USD] Technical Analysis: Coins left stunned afte…

13 Oct Bitcoin [BTC/USD] and Bitcoin Cash [BCH/USD] Technical Analysis: Coins left stunned afte…

Posted at 15:50h in Bitcoin News by

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In the light of the recent bearish run, Bitcoin [BTC] and Bitcoin Cash [BCH] are struggling to regain momentum. They continue to express the sideways sluggish movement that they have experienced since the beginning of October.

Bitcoin:

1 hour:
A slight uptrend presented itself from the $6610 – $6700 mark for 4 days at the beginning of the month, quickly translating into downwards movement to the $6630 mark, later finding a bottom at $6316.

There is also a prevalent downtrend in power since the 3rd, pushing the price down to the $6250 mark from $6440.

There is a support at the $6250 level, with a broken support at $6445. This also marks a strong resistance at the $6700 mark.

The MACD is moving upwards with a slight bullish crossover, representing positive momentum to come in the short term.

The Awesome Oscillator is exhibiting a slight positive movement, with green lines extending from the center.

1 day:
The downtrend from May is still in power, quashing any hopes of…

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