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 discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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