RATE Group | BTC Bears Are Back, Bitcoin Slowly Weakens as Altcoins Beat a Retreat
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BTC Bears Are Back, Bitcoin Slowly Weakens as Altcoins Beat a Retreat

31 Oct BTC Bears Are Back, Bitcoin Slowly Weakens as Altcoins Beat a Retreat

Posted at 05:36h in Bitcoin News by

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Bitcoin has managed to hold on above $9,000 for another day but it is slowly weakening and likely to drop below that support level by the weekend. The altcoins meanwhile are already sliding further and may well dump all recent gains.

Bitcoin Support Weakening

The pattern is pretty clear when looking at the Tradingview charts. A down trend has formed on the week and Bitcoin is slowly losing ground as it slides back towards $9k this Halloween day. The highest it could manage over the past day is $9,250 and a couple of hours ago BTC dropped to its intraday low of $9,050 for the second time.

bitcoin

BTC price 1 hour – Tradingview.com

Lower highs and lower lows indicate a continuation of this trend in the short term. Trader and analyst ‘Big Chonis’ has been doing the TA …

“Yesterday’s daily candle had a nice bounce reaction to the MA200, today’s current bitcoin follow up looks to retest again, RSI drifting into mid 50’s, MACD with another lower high with volume continuing to decline,…

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