Bitcoin’s renewed push above the descending channel trendline suggests bulls are preparing to push BTC and altcoins to new highs.
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Bitcoin’s renewed push above the descending channel trendline suggests bulls are preparing to push BTC and altcoins to new highs.
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Bitcoin price bounced off the 50-day moving average but the real test is near $57,500 where the bears are likely to push back.
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“We decided that additional time to conduct a more thorough code review and testing was important,” said Theta Labs.
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Bitcoin price is still meeting strong sell pressure near a key trendline, indicating the possibility of further downside for BTC and altcoins in the coming days.
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Bitcoin is stuck in a tight range but that has not stopped select altcoins from continuing their journey to new highs.
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If bulls can propel Bitcoin to a new all-time high, UNI, LUNA, THETA and FIL are likely to outperform their competitors.
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A bullish technical pattern signals that Bitcoin may be gearing up to retest its all-time high and this positive development is pushing UNI, THETA, VET and LUNA higher.
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Bitcoin is facing rejection above $40,000, but if the bulls do not give up much ground, several altcoins could resume their uptrend.
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Blockchain-based video streaming network Theta now has its own decentralized exchange.
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Altcoins rallied strongly over the past week, but Bitcoin’s current consolidation could be a sign that the trend may reverse soon.
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