Bitcoin [BTC] Price Holds at Support Amid Altcoin Sell-Off

2018-9-12 15:47

The markets have continued their bearish trend this week with strong sell-offs taking place in Altcoins. Although Bitcoin has also been depreciating, it is stable when compared with the sharp downward movements we have seen in the altcoin markets. Many altcoins have experienced double-digit downturns over the past 24 hours, even some of the most popular projects. Bitcoin’s dominance is back near 60%.

Today’s drop in Bitcoin has been on low volume and price, and RSI may be forming a slightly higher low which would be an indication that we could see further upward movement. However, on a bearish note, the MACD is still diverging from the centerline to the downside showing the momentum is still with the sellers. Once the MACD begins to converge back towards the centerline, it will be indicative that the momentum will be starting to shift back towards the buyers.

Bitcoin Daily Chart – Source: Tradingview.com

Bitcoin has been holding at support around $6240, but the moving averages have been providing some resistance to any upward movements. With the 50EMA and 100EMA approaching where price action is currently trading, we are likely to see either an upward movement which brings price action above these moving averages or a downward movement below the support level.

Next support is expected around $6100. Overall, the outlook is currently neutral. Another drop will be likely to form a lower low and a continuation of the downward movements we have been seeing.

Bitcoin Hourly Chart – Source: Tradingview.com Key Takeaways: Price and RSI currently forming a higher low but a significant downward movement is likely to undo this. MACD continues to diverge to the downside showing momentum is currently with the sellers. Price is holding at support around $6240, but the moving averages are acting as resistance. Outlook is currently neutral. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Bitcoin [BTC] Price Holds at Support Amid Altcoin Sell-Off was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 70914.71 (-0.13%)
Объем 24H $50.96b
Изменеия 24h: 5.67 %, 7d: 13.20 %
Cегодня L: $68995.48 - H: $71441.63
Капитализация $1397.201b Rank 1
Цена в час новости $ 6509.73 (989.36%)

bitcoin altcoin markets altcoins btc sell-off holds

Источник: blokt.com

bitcoin altcoin → Результатов: 111


Фото:

Dogecoin Now ‘Envy of the Crypto World’ As ICOs Dumped $30M ETH Last Week

Altcoin markets are witnessing upheaval September 11 as Ethereum (ETH) sees major sell-offs from ICOs and Dogecoin generates altcoins’ second-biggest transaction volumes. Dogecoin ‘Envy Of The Crypto World’ Data uploaded to Twitter by cryptocurrency researcher Kevin Rooke shows the abrupt rise of DOGE after developers released the coin’s long-awaited Ethereum bridge beta September 5.

2018-9-11 18:00


Фото:

‘Real Risk’: Blockstream Exec Warns Over Bitcoin Cash 51 Percent Attack

Bitcoin Cash (BCH) average hashrate over the past week has fallen below 8 percent of Bitcoin’s (BTC), while Blockstream compares the altcoin to a five-year-old Litecoin hard fork.   Feathercoin? Is That You? In comments on Twitter today, Blockstream VP solutions lead Warren Togami sounded the alarm over BCH — warning its low average hashrate placed investors at risk of double spend attacks from malicious parties.

2018-9-4 16:00


Биржа Altcoin.io привлекла $1 млрд инвестиций

Децентрализованная криптовалютная биржа Altcoin. io собрала почти $1 млрд инвестиций через платформу WeFunder. По словам разработчиков, преимущества их биржи в первую очередь в надежности: средства пользователей хранятся на их устройствах, а не на мощностях централизованной биржи.

2018-9-3 13:46


дальше еще 62 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

SOL Price Breaks $150 – Why Solana Could Soon Test $180

Solana is gaining bullish momentum above $150. SOL price is showing positive signs, and it could even surpass the $162 resistance in the near term. SOL price started a fresh increase from the $138 support against the US Dollar.