RATE Group | Could Bitcoin Challenge Ethereum? | Hacked: Hacking Finance
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Could Bitcoin Challenge Ethereum? | Hacked: Hacking Finance

10 Oct Could Bitcoin Challenge Ethereum? | Hacked: Hacking Finance

Posted at 20:16h in Ethereum News by

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The fact that Bitcoin hit a two-week low with a less than 4% decline today in early trading describes just how low volatility has been lately in the cryptocurrency segment. The major coins are still stuck in narrow trading ranges, and the bearish drift of the last couple of days carried most of them down to the lower boundary of those ranges.

As the energy continues to build in the market, we still expect a strong momentum move soon, and short-term traders should be aware that a range expansion would swiftly change market conditions in the segment. With that in mind, traders their position sizes even in the very quiet environment, particularly in the case of long positions, since bearish long-term pressures are still dominant.

BTC/USD, 4-Hour Chart Analysis

Bitcoin briefly traded below the $6400 level after taking out the $6500 support yet again, but buyers stepped in near the weak rising trendline in the area. The trendline is part of the broader triangle…

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