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Cryptocurrencies Hold Above Panic Lows after Bounce

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Cryptocurrencies Hold Above Panic Lows after Bounce

Introduction

This article was posted on Tuesday, 22:18, UTC.

After yesterday’s emotional bottom, the major coins experienced a strong bounce, followed by a decline today in early trading. While Bitcoin dipped below yesterday’s low, Ethereum and several other majors remained above it signaling a less correlated decline that is a bullish sign. Although the coins remain in short-term downtrends, the oversold readings on the momentum indicators and the long-term charts, which are turning neutral, are both suggesting a tradable bottom.While more volatile sideways action is possible here, short-term long positions could be opened to ride the bounce. Bitcoin BTC/USD, 4-Hour Chart Analysis All dips below the $2350 level were aggressively bought…

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Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

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