Bitcoin Retests 50-Day Average Support; XRP Risks Dogecoin-Like Bearish Shift in Momentum

Description

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. There is an old saying, "Once is a chance, twice is a coincidence, and a third time is a trend." It applies to bitcoin BTC right now. The cryptocurrency's price has fallen back to its 50-day simple moving average (SMA), which offered support on two occasions this month, leading to price bounces. Therefore, the latest re-test of the average presents an opportunity for the bulls to establish a tre...