Bitcoin, Litecoin & DigiByte – American Wrap: 10/29/2020

By October 29, 2020Bitcoin Business
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Bitcoin, Litecoin & DigiByte - American Wrap: 10/29/2020

If we observe Bitcoin's price action in November 2012, around two weeks before the election, the digital asset plunged by 20% and didn’t recover until weeks later. It’s important to note that BTC was far more volatile in 2012 as trading volume was minimal.

LTC seems to be trading inside a descending wedge formed on the monthly chart and is currently at $55.88, after having touched $53.44. The pattern is on the cusp of a massive breakout. Additionally, an essential technical indicator is about to present a strong buy signal.

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DigiByte seems to be getting ready for an upswing following extended declines since September. The downtrend has been constrained in a descending parallel channel. Meanwhile, support at $0.18 in conjunction with the channel’s lower boundary allowed the bulls to take back control, commencing the undergoing recovery.

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