Technical analysis seems to have played a crucial role in recent Bitcoin dynamics. Closing the day on Wednesday below the 200-day average signalled a further decline, which we witnessed. During the last 24 hours, the benchmark cryptocurrency has lost another 2% and changed hands at $8.350.
The inability of the coin to stay above $9K triggered profit-taking. Now bulls hope that Bitcoin has a strong support at $8,000 – $8,200, and as we approach this range, buyers may become more active.
Altcoins duplicate the descending dynamics of the first coin, and the Bitcoin dominance index has slightly increased at 66.2%. The Bitcoin Greed and Fear index has entered the “Fear” mode at 40.
- WTI broke daily Triangle - Likely to rise to resistance level 70.90 WTI crude…
- AUDUSD reversed from resistance level 0.6270 - Likely to fall to support level 0.6200…
- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…
- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…
The recent declines in US indices may have broken the bullish trend, indicated by technical…
The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…
This website uses cookies
