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Bitcoin Bounces Off Key Support to Trade Closer to $29,500
The bitcoin price on Friday bounced off the key level at $29,120 to trade at about $29,443 following the latest round of data. The BTC/USD appears to be about to complete a double-bottom reversal pattern formation in the 60-min chart. Bitcoin has now advanced to trade above the 100-hour moving average line. As a result, the price of the pioneer cryptocurrency appears to be on the verge of venturing into the overbought levels of the 14-hour RSI. Bitcoin Price Fundamentals Overview From a fundamental perspective, the BTC/USD is trading at the back of a relatively busy period in the US market. On Friday, the US personal ... (full story)