Both Bitcoin and Litecoin are trading lower this week. Bitcoin is down by $22 while LTC/USD is lower by 38 cents or 8.6 percent. As usual, let’s start with the bigger brother Bitcoin and get back to LTC later in the article.
Bitcoin Down by 3.3 Percent
Bitcoin is down by $22 or 3.3 percent since last Tuesday. The Bitcoin halving came and went but prices have yet to make a decisive move. After July 9, the Bitcoin creation rate dropped from 8% to 4% per annum. More on this in our previous article.
While the week prior saw some tentative gains for BTC/USD, the last seven days saw a lot of that move retrace. As we can see in the 4-hour chart below, for the past several weeks Bitcoin has been stuck in a range. While the medium and long-term trends are still bullish, the short-term daily charts are signalling indecision.
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