RATE Group | BTC bulls trapped below SMA200 daily
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BTC bulls trapped below SMA200 daily

11 Oct BTC bulls trapped below SMA200 daily

Posted at 16:40h in Bitcoin News by

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  • The cryptocurrency market is still in the good old range.
  • Bitcoin’s technical picture is full of uncertainty as SMA200 remains unbroken.

Bitcoin bulls have had a short glimpse of victory only to suffer a bitter disappointment this week. While bears gave away some ground and allowed the price to recover deeper into $8,000-$9,000 range, they may still have revenge as long as the price stays below significant technical levels that separate us from a full-fledged recovery.  What’s behind the price movements of the week and what to expect next? Read on to know the answers.

What’s going on in the market

The cryptocurrency market has been at the mercy of sentiments, rumors and whales activity. No surprise here, actually. 

Regulators and governments are still skeptical about digital currencies. A new portion of harsh comments has come our way this week, though the market participants seem to get adapted to them. Many cryptocurrency proponents believe that…

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