Bitcoin Rallies Unconvincingly from Below $10,000

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In Brief
  • Bitcoin has been rallying since hitting a local low of $9,875

  • There is a considerable bearish divergence in short-term indicators.

  • The BTC price is likely still in wave 4, which could end near $10,480.

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Bitcoin (BTC) has been increasing since it reached a low of $9,825 on Sept 5. The rally does not appear to be very convincing though and suggests that another drop below the aforementioned low is likely to transpire. Bitcoin Rally Shows Weakness The Bitcoin price has been increasing since a low of $9,825 on Sept 5. This move to the upside was preceded by a considerable bullish
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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