A few of the top performers of the past seven days are offering buying opportunities
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A few of the top performers of the past seven days are offering buying opportunities
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With several major cryptocurrencies holding above their immediate support levels, the possibility of a short-term up move has increased
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Bitcoin is forming a basing pattern and a breakout of the consolidation will confirm a likely bottom
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Bitcoin crossed above a key resistance and several altcoins appear on the verge of a short-term breakout, suggesting the Santa Claus rally is about to start
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Altcoins continue to post incremental gains and traders are watching to see if Bitcoin can form a double bottom reversal pattern by rising above $7,900
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Bitcoin’s recent bounce off the descending channel support on looks encouraging and an eventual breakout of $7,856.76 might confirm a bottom
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Traders should prepare their buy list as it appears that the crypto market will bottom out soon
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On Tuesday, December 17th, the LTC cryptocurrency is declining, trading at $39.76. On D1, there is a downtrend developing. Upon reaching 76.0% and an attempt of a pullback to 61.8% Fibo, the quotations formed another declining wave. They have renewed the previous daily minimums and headed for the yearly fractal support line at $22.25. The resistance is at $56.63. There is also a converging forming in the MACD, which indicates a slow-down of the trend. On H4, the declining wave is visible in more detail. The quotations are testing the local support line, which may soon end in a breakaway
The post Litecoin Price Analysis for December, 17th – LTC under Bearish Pressure Again appeared first on The Merkle Hash.
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Most major cryptocurrencies led by Bitcoin are likely to remain range-bound for the next few days
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Bears are attempting to take control. Can the top five performers move against the trend and climb higher? Let’s study the charts.
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