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.
Market picture The crypto market has lost 3.3% in the last 24 hours to $2.3…
- USDJPY broke key resistance level 155.00 - Likely to rise to resistance level 160.00…
- Ebay reversed from support level 49.35 - Likely to rise to resistance level 52.55…
Even though the Bank of Japan left the key rate and parameters of the QE…
Market picture Market Dynamics: The cryptocurrency market stabilised, losing just 0.1% of capitalisation and dropping to…
- GBPCAD reversed from key support level 1.6910 - Likely to rise to resistance level…
This website uses cookies
