RATE Group | Bitcoin rally stalls as it approaches trade above 200-day moving average
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Bitcoin rally stalls as it approaches trade above 200-day moving average

17 Oct Bitcoin rally stalls as it approaches trade above 200-day moving average

Posted at 14:25h in Bitcoin News by

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Major cryptocurrency prices are trading mostly unchanged Wednesday.

After rising as much as 10% on Monday, bitcoin, the world’s largest digital currency, broke out of a triangle formation, which if holds, one analyst said could point to another leg higher, testing another important level.

“This price action—shown on the chart below—was quickly sold-off but did decisively break the downward triangle, and needs to be watched carefully,” wrote Nick Cawley, markets analyst at Daily FX. “If BTC can close above this triangle over the next few sessions, it will indicate renewed bullish sentiment that…

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