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Bitcoin Rallies Hardest in November — So Why Are the Charts Bearish?

From cointelegraph.com

So far November has started off as a relatively uneventful month for Bitcoin’s (BTC) price action but all of this could change before the weekend is over. Let’s take a quick view of the charts to see what is in store. Outside of setting a weekly high at $9,616, the price continues to trade in a tightening range, capped beneath the weekly resistance at $9,616 and supported at $9,100. The past 5 days have set a pattern of daily lower highs as trading volume is nearly grounding to a halt. On the daily timeframe, Bitcoin price is pulling closer to the 20-day moving average (DMA), which lines up with a volume gap on the ... (full story)

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  • Category: Technical Analysis