Bit-comment: Bitcoin met resistance at levels around $9500
January 31, 2020 @ 13:03 UTC
Bitcoin attempted night assault of a $9,500 but the bull’s attack was bogged down. By Friday morning, the benchmark cryptocurrency is dropping closer and closer to the lower boundary of $9,300. The major altcoins show a mixed price dynamics. While Litecoin (LTC) is still growing by more than 11% over the last 24h, Bitcoin Cash (BCH) has already moved into the red zone. RSI on the daily chart decreased from the overbought territory. Yesterday the similar dynamics ended with a reversal back upwards. However, today the situation may turn out to be different after an unsuccessful attempt to hit a resistance. The greed and fear index is still in the “greed” zone. Bitcoin likely needs more time for consolidation to give investors confidence in the strength of new levels.
The FxPro Analyst Team