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09.12.201916:29 Forex Analysis & Reviews: BTC 12.09.2019 - Consolidaiton mode active, potential for upside move

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Bitcoin has been trading in consolidation mode at the price of $7.520. There is chance for the upward cycle first and potential test of $7.830-$8.360. Anyway, my advice is to watch for potential selling opportunities

Slow line on the MACD oscillator turned into bull mode, which is indication for potential upside movement in the next period.

Support levels are found at the price of $7.128 and $6.500. Resistance levels are found at the price of $7.830 and $8.360.

Petar Jacimovic
Analytical expert of InstaForex
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