Bitcoin News
By Dan Saada
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Overbought indicators occur when the buying has pushed the price really too high. When this happens, a price pullback is normally expected.
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The price correction failed in the past week for the climbing highs, and this has led to the formation of a double-top pattern providing for a bearish reaction.
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Technical indicators show that the bears have the upper hand. However, if the bulls will defend the $5,200 support in the short-term, the BTC/USD might stay at a limit…
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The total market capitalization has touched upon a 5-month high, and the odds are high for the Bitcoin to enter into a long-term bullish trend in the forthcoming months.
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The significant higher high on April 02, 2019 from the ascending triangle in the 200-day moving average indicated the coming of the current trend.
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It is seen that Bitcoin has real-time use cases in countries where the Fiat currency is suffering from inflation.
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Meanwhile, the search results are increasing for keywords like Bitcoin and for keywords that cater to paying with Bitcoin.
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Despite all the developments the routine criticisms continue to float in the market concerning Bitcoin like the mining being slow and energy expensive.
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