RATE Group | BTC breaks the downward trend – “Long Bitcoin”
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BTC breaks the downward trend – “Long Bitcoin”

29 Jan BTC breaks the downward trend – “Long Bitcoin”

Posted at 11:20h in Ethereum News by

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  • BTC/USD closes at $9,400 and confirms the bullish momentum scenario.
  • XRP/USD accompanies Bitcoin and also confirms the new favorable scenario.
  • ETH/USD is delayed and the bullish exhaustion level is set at $176.5.

Long Bitcoin! The entry into non-bearish territory has been long-awaited news and it has come in an unexpected sequence.

Just as the short term trend was running out, the market finds new money. Bitcoin has broken through the upward resistance that indicated bearish territory from the $13,812 peak recorded on June 26, 2019.

The crypto market has several active bullish patterns:

  1. Second-tier altcoins are rising sharply.
  2. Bitcoin, the King, enters potentially bullish territory.
  3. XRP also confirms the exit from bearish territory.

And Ether?

Ethereum is up 1% on the day and is above the SMA200 for the first time since September 2019. Nevertheless, it remains in the medium-term bearish scenario. The impact of this delay is direct on the market as a…

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