Bitcoin Watch – Coindesk on Bitcoin: Technical charts continue to favour a rally to USD10,000

13 March, 2018

As Blue Swan Daily has reported over the last week, Bitcoin is continuing its downward spiral (at time of publishing it remains at around USD9,200), however Coindesk analysts have advised the “technical charts continue to favour a rally to USD10,000.” Despite Bitcoin’s 10-day moving average and 50-day moving average showing the “odds are stacked” against a move above USD10,000, according to Coindesk, “BTC is still trading well above the long-legged doji candle low of USD8,342 set on 09-Mar-2018. The candlestick pattern represents bearish exhaustion. So, it seems safe to say the odds of a corrective rally are above 50 percent, as long as BTC stays above USD8,342.”

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