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$BTCUSD (Bitcoin / USD) – Reclaiming 10/20-Day Moving Average Is

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
$BTCUSD ( Bitcoin / USD) – Reclaiming 10/20-Day Moving Average Is a First Sign Of Strength

Bitcoin ($BTCUSD +7.52%) rebounded from $18,900 support level reclaiming posture above its 10/20-day moving average. It is worth to note that $BTCUSD is now trading beneath its declining 50-day moving average.

The level of support to watch for $BTCUSD this week remains at $18,900, a immediate support before reaching its year till date low $17,590.

Bull Case: Reclaim above its existing 50-day moving averages at $22,000.

Bear Case: Breakdown of $18,900, a immediate support before reaching its year till date low $17,590.

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