Bitcoin faced hard resistance at the approach of $10,500, rolling back to $10,100 at some point yesterday and after stabilizing at $10,200, where it is at the moment. BTC lost more than 2% in the last 24 hours, pulling down the rest market. The alarming factor is that in September last year, Bitcoin also failed to develop the growth, which triggered a three-month period of decline.
The TOP-10 alternative cryptocurrencies lose 2-4%. Despite the recent lull, Bitcoin has sustained above the $10K threshold for three days, which is good news for the market. The RSI has started to decline out of the overbought zone, while the Crypto Fear & Greed Index is still in the “greed” zone. Market participants do not rule out a decline below $10K shortly but are waiting for the buying impulse in the downturn at this level. As a result, Bitcoin needs to stop above $10,500-10,600 to head for the next big mark.
The FxPro Analyst Team
- EURJPY under strong bearish pressure - Likely to fall to support level 163.10 EURJPY…
- WTI broke round support level 80.00 - Likely to fall to support level 76.00…
The monthly ADP labour market report showed that America created 192K new jobs in April, above…
Bears showed strength ahead of the FOMC decision. U.S. indices sagged on Tuesday as investors…
Market Picture Bitcoin's closing price on Tuesday became the lowest since late February, confirming the…
- Ebay under the bearish pressure - Likely to fall to support level 51.00 Ebay…
This website uses cookies