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14:01 16.01.2019
2019-01-16
Neironix
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Bitcoin Technical Analysis 15/01/19: Sharp Rise Indicates Near-Term Reversal 

The market has begun to move up and, according to CryptoTradingSchoolOnline analyst Liam Webb, we could see the price hit 3,800 again soon. 

Recently, the price of Bitcoin increased almost to 5%, which was caused by the serious rise of some recent updates. 

This rise could signal the beginning of a reversal back to 4,000, however, it is not that possible, unless it comes back to the 3800 support level, at least. 

The reversal shows that some wealthy investors could buy a large amount of Bitcoin. When somebody is intended to purchase a large amount of any cryptocurrency (in this case Bitcoin) and there aren't enough people who sell at the same time, a person does not have an opportunity to have the whole amount he or she wants. That is why this person has to make a purchase twice. 

If it is directly connected with the reversal case seen recently, there's still a chance that the price will drop back. You should control all the changes and stay updated about new developments.

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