The two major cryptocurrencies Bitcoin and Litecoin are back in a range, although they took a different path to get there. Bitcoin ended its uptrend and is now back in an undecided territory after another week of downside movements. Litecoin briefly broke the important support noted in our latest article but has bounced back hard since then and moved back inside its range. As usual, we’ll first start with BTC and cover its little brother later on.
Bitcoin Back in Range
Everyone’s favorite cryptocurrency is now back in a range after spending the last seven days mostly in the red. Prices dipped to a low of $581.89 on FXOpen and $592 on other exchanges. While this dip doesn’t count as a break of the $590 level noted last week, the upside momentum has been completely lost in BTC/USD. For example, on September 4 a high of $613 was reached and today we’re trading below here at $607 per coin. So, we’ve basically stayed in this new range for the past 23 days.
Read More https://blog.fxopen.com/bitcoin-undecided-litecoin-bounces-strongly/