Bitcoin price continued its latest sideways trading pattern on Oct. 15 as analysts increasingly warned over likely short-term volatility.
Since a sudden dip took place on Sunday evening, Bitcoin has stayed quieter, trading in a narrow range above $8,000 support.
For him, moving average prices are dictating the upper and lower bounds for the largest cryptocurrency this week.
Fellow contributor filbfilb elaborated on likely price trajectory in the coming hours and days, erring on the side of a slide lower to test $8,000.
"Moving averages are crossed bearish on every major timeframe up to but not including the weekly."
Van der Poppe nonetheless remains unconcerned about the overall health of crypto markets.
At current levels, Bitcoin is still up 120% versus the start of the year.
Altcoins meanwhile slackened their march upwards, which characterized trading on Monday.
The top twenty cryptocurrencies by market cap broadly failed to move, gaining or losing up to 2%. The exception was Binance Coin, which benefited from a dedicated exchange-traded product launching on Swiss stock exchange SIX. Ether, the largest altcoin by market cap, meanwhile gained 0.5% to trade at around $184.Ether seven-day price chart.
The overall cryptocurrency market cap, the "Bear trap" described by van der Poppe, dropped slightly to below $226 billion, with Bitcoin's share at 66.3%.Keep track of top crypto markets in real time here.
Bitcoin Price Flat at $8.3K as Moving Averages Indicators Flip Bearish
pubblicato su Oct 15, 2019
by Cointele | pubblicato su Coinage
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