RATE Group | Bitcoin poses the doubts that the Ethereum clears
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Bitcoin poses the doubts that the Ethereum clears

08 Oct Bitcoin poses the doubts that the Ethereum clears

Posted at 09:47h in Bitcoin News by

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The cryptoverse gained Monday’s battle between bulls and bears – which is expected to continue today in full force. 

Many headlines ask rhetorically about the direction in the coming weeks. The question is simple: Will Bitcoin collapse to support at $4,000, or will it go in search of a new historical high?

It is impossible to say where Bitcoin will move in the next few months, but I think some data can help you construct a scenario:

  1. – Bitcoin managed to escape the broad long-term bearish channel in mid-June. In the last two weeks, Bitcoin tested it again – and for now – it has been respected.
  2. – Ultra-Long-term indicators show that at no time have bulls lost leadership in the BTC/USD pair. The current advantage of bulls over bears is small. A return to $4,000 would cross these indicators to the bear side and, by the time amplitude, plunge Bitcoin into a long, hard winter.
  3. – Ultra-Long-term moving averages still move at very low levels, around…

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