Bitcoin Stalls After Steep Upward Move

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In Brief
  • -The Bitcoin rally stalled on July 28.

  • -The trend has generated short-term weakness.

  • -The price is either trading in, or has broken out from, a symmetrical triangle.

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On July 27, the Bitcoin (BTC) price reached a high of $11,394 after a massive rally. However, the upward move has stalled and the price has been gradually decreasing since. On July 27, the Bitcoin price created a bullish engulfing candlestick, causing the price to reach a high of $11,394, breaking out from the previous long-term resistance area. Bitcoin Still Cautiously
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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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