RATE Group | Bitcoin, Ethereum and XRP Prepare for Volatility; Bullish or Bearish?
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Bitcoin, Ethereum and XRP Prepare for Volatility; Bullish or Bearish?

04 Nov Bitcoin, Ethereum and XRP Prepare for Volatility; Bullish or Bearish?

Posted at 03:48h in Bitcoin News by

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  • Bitcoin and Ethereum are consolidating within a narrow trading range.
  • Bitcoin may have resumed its macro-uptrend, said a renowned technical analyst.
  • XRP prepares for a major event that could trigger an increase in demand.

Last week, the total crypto market capitalization surged over 40% to reach a high of $267 billion. During this time, approximately $77 billion was injected into the market. Bitcoin jumped over 42% while Ethereum and XRP rose nearly 30%. Despite the bullish impulse, these cryptocurrencies entered a consolidation phase and could be on the verge of a significant breakout.

Bitcoin (BTC)

After a massive $3,150 upswing that occurred between Oct. 23-26, bitcoin seems to have stabilized within a trading range. This area is defined by the lower and upper Bollinger bands that sit around $9,055 and $9,450, respectively. As the Bollinger bands squeeze, indicating low volatility, they foresee that a period of high volatility could be underway. Trading between these…

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