RATE Group | Bitcoin Price Intraday Analysis: BTC/USD in Breakout Action
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Bitcoin Price Intraday Analysis: BTC/USD in Breakout Action

04 Nov Bitcoin Price Intraday Analysis: BTC/USD in Breakout Action

Posted at 21:21h in Bitcoin News by

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Tether bitcoin price



Bitcoin on Sunday jumped 2.13 percent against the US Dollar as USD-pegged cryptocurrency tether (USDT) resumed its implosion.

BTC/USD was in a sideways sentiment for most of the weekend trading session. The bearish trendline has capped the upside bias on multiple occasions. Nevertheless, the pair — from the past 8 hou rs to the time of this writing — has persuaded a successful breakout action, breaking the cap mentioned above and forming new intraday highs towards 6464-fiat. At the same time, CoinMarketCap.com is showing a massive drop in Tether value — about 4 percent — mirroring the scenario of the October 15 trading session that prompted a massive upside rally throughout the cryptocurrency market.

BTC/USD Technical Analysis

The breakout action has allowed BTC/USD to retest October 24 high towards 6470-fiat while jumping above the pair’s 100H and 200H simple moving averages. The RSI momentum indicator has also jumped towards a…

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