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Bitcoin: Why BTC Is Falling And Ethereum Is Rising? (September 2019)
Bitcoin (BTC) declined below a key trend line support and is now struggling to break above it. Until it succeeds to break past this trend line support turned resistance, we have no reason to be bullish on BTC/USD. Even the RSI tells us that this downtrend is very much intact. The price is primed for further downside here and if we take a look at the 4H chart for BTC/USD we can see that it remains below the 38.2% fib retracement level from the local high at the top of the symmetrical triangle. There was a fake move to the upside but as we expected it failed to hold its ground and the price of Bitcoin (BTC) closed the 4H candle just close to the 38.2% fib retracement level.
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