Bitcoin (BTC) Breakout Or Another Fakeout? (January 2020) COINIGY BITMEX

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Bitcoin (BTC) Breakout Or Another Fakeout?

Bitcoin (BTC) has finally broken past the $9,000 level once again and traders are now hopeful that we might see further upside. The vast majority of retail traders is bullish on BTC/USD at the moment anticipating further upside. This is not surprising to see before the next halving and the whole narrative of a potential bull run that has now been built around it. The cryptocurrency market certainly risks a major downtrend in the near future if and when the price crashes below the 200-day moving average again. That would prove that this had been a similar move to that of October, 2019.

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