The bitcoin-US dollar (BTC/USD) exchange rate closed above the 50-day moving average yesterday – crossing a key milestone for the first time since September 13.
However, while this might be read as a bullish signal, the follow-through has not been encouraging so far. Prices fell to a low of $3,836 earlier today and were last seen trading around $3,990 levels. The 50-day moving average is located at $3,982 levels.
As per CoinMarketCap, the cryptocurrency has hardly moved in the last 24 hours.
BTC is up 4.5% on the week and month. (Indeed, the lackluster action in the cryptocurrencies is eerily similar to the one seen in equities, currencies, bonds and commodity markets at the moment.)
Full story at http://bit.ly/2w8K9Ux
Source: CoinDesk
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