RATE Group | Bitcoin (BTC) Whale Moved 5000 BTC to Poloniex, ‘Shuffling Funds’ Suspected by Analysts
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Bitcoin (BTC) Whale Moved 5000 BTC to Poloniex, ‘Shuffling Funds’ Suspected by Analysts

12 Jan Bitcoin (BTC) Whale Moved 5000 BTC to Poloniex, ‘Shuffling Funds’ Suspected by Analysts

Posted at 18:15h in Bitcoin News by

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Contents

  • Storm clouds hovering above Bitcoin
  • Bulls need more steam 

After Bitcoin’s impressive rally in early January, some traders can’t help but feel like another major upside move could be just around the corner. However, market analyst Jacob Canfield is convinced that BTC could witness more downside pressure.  


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Storm clouds hovering above Bitcoin


In his latest tweet, where he shares his unbiased view of the current market situation, Canfield points to the fact that BTC continues to make lower highs within a bear channel while the Relative Strength Index (RSI) is currently in the transition zone. Furthermore, BTC has formed its third hidden bearish divergence since August (the two previous ones were instantly followed by major price drops).      



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