After a continuous rally with expanding volumes in the past 2 sessions, BTC moves back above MA 5 and a minor correction is initiated from the resistance at $8,700.
Judging from the volumes and momentum, however, strength from bears keeps weakening, indicating that the short-term uptrend remains intact.
Please note that any adjustment to price during uptrend after sharp dips is normal, there is no need for investors to worry about another wave of downtrend.
The market just can’t keep dipping all the time and it will remain under the control of bulls before momentum from bears grows strong in the short term.
No more bearish news comes from G20 summit for now, technical factors will dominate the market as fundamental factors remain stable and neutral.
Price will keep moving sideways for another 1-2 days after a continuous rally. We can wait for the counterattack by bulls.
Original by AICoin Jami, translated by AICoin Jami.
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