Bitcoin Averts Bearish Trend Change But Stalls Beneath Key Price Average

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Bitcoin’s (BTC) has stalled beneath the 100-day moving average after a small price rise on the weekend brought the world’s premiere crypto back from the brink of a major bearish trend change.The event signals an equilibrium between buyers and sellers has begun to form as the tug-o-war between $9,300 and $9,900 continues.Formerly offering its support during a strong uptrend, the 100-day moving average (MA) can now be considered as resistance after BTC moved below it on August 28.The longer BTC remains at resistance the greater the chance for another major sell-off as its price discovery develops.On the daily chart, prices are trapped beneath the long-term MA, hinting at a change in trend for the mid-term from bullish to bearish, supported by lower levels of total growing (bullish) volume when compared to the bears.The daily awesome oscillator (AO) is yet to signal a reversal to the downtrend, as its 6th histogram…

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