Wednesday, September 18, 2019
Despite exciting news, the price continues its slow decay.
Current support/resistance: $10'000/10'400
After being sued and his new booked trying to be blocked by Washington, Edward Snowden twitted that it was good for Bitcoin. Meaning that people being scared of having their funds confiscated by governments may place their wealth in Bitcoin and other cryptocurrencies. Additionally, the main messaging app in Japan just integrated a trading system for five cryptocurrencies. It allows the 80 million users to easily get and use those cryptocurrencies.
While mass adoption continues its advancements, the market stays in a slow mode with low volumes and a slow descent. The MACD lines are now touching signaling a sell and bitcoin is traded below the 20 days moving average.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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