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Bitcoin Bounces Off Weekly Lows to Trade at About $26,031
The bitcoin price on Thursday bounced off the current weekly lows of about $25,600 to trade at about $26,031. The price of the pioneer cryptocurrency appears to be trading within an ascending channel formation in the 60-min chart. The BTC/USD has now ascended to trade a few levels above the 100-hour moving average line. As a result, the bitcoin price seems to be on the verge of entering the overbought levels of the 14-hour RSI. From a fundamental perspective, the BTC/USD is trading at the back of a relatively busy period in the US market. On Thursday, the initial jobless claims for last week outshone the forecasted ... (full story)