RATE Group | Decisive day in the balance between Bitcoin and Ethereum
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Decisive day in the balance between Bitcoin and Ethereum

07 Jan Decisive day in the balance between Bitcoin and Ethereum

Posted at 15:10h in Ethereum News by

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  • Bitcoin retreats in search of a second bullish attempt at the $8000 level.
  • Ethereum wins the first resistance despite Bitcoin’s opposition.
  • XRP is doing very well but should do better if it is to gain momentum.

The components of the Top 3 cryptocurrencies take a break in the European morning of this Tuesday, January 7, 2020.

Throughout the first weekend of the year, the bull side dominated the market. The rises have moved the sentiment indicators towards neutrality after many weeks of extreme fear.

The market is now watching the chart that interlinks Ethereum with Bitcoin. 

The analysis of previous upward movements indicates that for an upward trend to consolidate, Ethereum needs to do better than Bitcoin. 

The ETH/BTC pair has been in a downward trend for years and is now facing a long-term downward trend. 

The resolution of this scenario will signal the future of the crypto market for 2020.

 

 ETH/BTC Daily Chart

The ETH/BTC pair is currently…

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