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Bitcoin: BTC Is On The Verge Of Another Downtrend (Oct 2019)

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Bitcoin: BTC Is On The Verge Of Another Downtrend (Oct 2019)

Bitcoin (BTC) commenced to rally after initial signs of weak spot which led some traders into thinking that possibly the bearish setup is invalidated. Even so, if we zoom out and glance at the BTC/USD chart, we can see that there is nothing to be worried about from a bearish standpoint as the cost has just fashioned a double major and is now primed for a sharp decline. The RSI exhibits us that it tested the craze line resistance again and commenced to decline from there. Cryptocurrencies are now at a big risk of even further downside and what we see in this market is correctly in line with what is occurring on big monetary markets like the inventory and bond market.

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