Bitcoin lost more than 4% over the last 24 hours and trading around $6,900, under a critical round level. However, we are not yet talking about a massive sale, as evidenced by cautious purchases immediately after Bitcoin was below $6,900 at some point. Altcoins from the TOP-10 drop 4-7%, duplicating the price dynamics of the benchmark cryptocurrency.
Looking at the chart, we can see that in April the support was formed on the way to $6,500. Earlier, in late March, this level acted as resistance. Now, we see increasing of buying when the bitcoin dips below this level, with the upper boundary near $7,500.
Now all market participants are witnessing the development of the epidemic situation and the reaction of central banks. Institutional investors are now quite a severe force of influence on the crypto market; these events will have an impact on digital currencies.
The FxPro Analyst Team
- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…
- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…
The US dollar has strengthened, reaching the upper boundary of its trading range. The British…
Cryptocurrencies continued to surge, pushing the total cap to $3 trillion. Bitcoin has gained nearly…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
This website uses cookies
