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Cryptocurrency: Crypto Market Could See Short Term Upside (October 2019)
We are looking at the 4H chart for BTC/USD and we can see right away that Bitcoin has done practically nothing for the past few days. It has traded sideways but there is a changing outlook now that signals potential further upside in the near future. That being said, the big picture remains intact and we do not think BTC/USD has much room to go up from here. However, altcoins like Ethereum (ETH) have plenty of room to go up yet and it is likely that they will capitalize on that. The daily chart for ETH/USD shows how the price shot up towards the 50 day EMA even though it couldn’t succeed in breaking above it. Ethereum (ETH) has now begun its day in red and is still trading below the 50 day EMA but at the same time, it has firmly held the 21 day EMA as support.
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