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Technical Analysis BTC / USD - 10/20/2018
After the brief correction of prices reaching LTB, Bitcoin does not seem to want to return to the bass line mentioned in several of our previous analyzes.
As we can see, the RSI on the daily chart is giving bullish signals, with its standard 14-period moving average beginning to set an LTA pattern, according to the green arrow in the indicator.
The buyer volume has been more present during the last seven days, which also gives us a bit more firmness regarding our forecasts. However, the picture is still delicate and there is still the possibility of correction and new background testing through the rupture of the LTB.
Therefore, we continue, in accordance with our convictions, favorable to the previous technical analysis. Beware, however: extensive lateralizations like this can take the market to either side at any time.
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