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Bitcoin Bull Rally a Trap? BTC going to fall down again?

From coinnounce.com

Bitcoin price was able to recover after falling up to $4920 recently. BTC is currently trading nicely and might soon test $5200 resistance level. Last week, bitcoin corrected downwards sharply falling below $5000 support level and tested the $4920 support. After this, bitcoin started a fresh upward move and moved over $5000 and $5100 resistance levels. The buying pressure even moved BTC above $5150 and the 10 hourly SMA. Bitcoin price was able to break through the bearish pattern line which was formed with resistance around $5100 on the hourly chart. Currently, bitcoin is trading in a positive momentum above the 100 ... (full story)

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  • Category: Technical Analysis