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Bitcoin Price Stabilizes at $6,550, Analysts Optimistic About Stellar Breakout

Over the past day, bitcoin has been stable in the area of mid-$6,000 values,  After having a rise to $ 6,800, only to decline slightly to $ 6,600. Most major crypto assets including XRP , ETH, and EOS have recorded large losses in the range of 3 to 5 percent when compared to the good run that bitcoin had. But, many technical analysts in the cryptocurrency community have expressed their optimism towards the short-term trend of Stellar, which remains as one of the few digital assets in the global market to have minimized losses throughout the past two days. Last week, Stellar closed its weekly chart with a good run, showing momentum with the formation of a rising triangle.
Since September 29, analysts have referred to the positive technical indicators of xlm, predicting a wave in the form of a short-term rally in the next days. The technical analyst Carpe Noctem recently suggested that Xlm was on a big price movement that could be successfully exceeded for $ 12 to 24 hours if it can go over $0.27. Another respected analyst, Satoshi Flipper noted that it could be about to pull a ripper right out of this Triangle equation, as long as bitcoin does not ruin the party.
Bullish here. But, according to the predicted escape phase, the xlm behavior is dependent on two major factors: the short-term development of bitcoin and the ability of Xlm to blow over a major resistance level.
Next September 27, the price of bitcoin should be expected to bring a large rally and reach $7,000, but it faced major opposition and was unable to go over the $6,800 resistance level, falling back to $6,500, a level below the $6,600 mark and BTC had to relaunch a short-term rally again
As most major cryptocurrencies,  XLM is still dependent on the performance of bitcoin. Don alt, an investor, declared that bitcoin seems good for this quarter, but it must close the 3-month candle to show a positive short-term price movement.
BTC quarterly update: Very Bullish. The last time bitcoin recorded two stable candles in mid-2016 led to large mid-term rally in the coming quarters. it is possible that the last quarter of 2018 can mimic the same movement. In short-term, the price trend is still uncertain. BTC will have to increase heavily in volume, more than 20 percent, to have a short-term increase in price, which is highly unlikely.

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