RATE Group | Bullish Breakouts in the Horizon – Crypto Recorder
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Bullish Breakouts in the Horizon – Crypto Recorder

28 Apr Bullish Breakouts in the Horizon – Crypto Recorder

Posted at 09:27h in Ethereum News by

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Bitcoin (BTC) price corrected higher from trading below $8,800 during the intraday trading on Thursday 26.The cryptocurrency market is fairly quiet except for the recent news that Mt. Gox moved about $165 million worth of Bitcoin (BTC) and Bitcoin Cash (BCH) from some of its wallets.

The now-defunct cryptocurrency exchange was reported to have transferred a total of 16,000 BTC and 16,000 BCH from wallets associated with it. It is not clear if the moved coins were sold or just transferred to various wallets in batches. Such huge sums of cryptocurrencies have been known to cause severe drops in price. However, the market is lagging its reaction to these events.

BTC/USD upside correction has been capped below $9,400, although there is a bullish momentum in progress above $9,300. The moving averages’ gap is reducing signalling that buying pressure is present. Besides, the MACD momentum indicator is slightly moving towards the positive region to show that the bulls are holding tight….

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