Cryptocurrencies are going down... What may signal a recovery?
Tag - bitcoin
Last week BTC/USD failed to close at the weekly high in the 12,295 area and ended up near 11,416.
Check the key levels for the four main cryptocurrencies and think about your next steps!
Check the key level for crypto ahead of the weekend!
Bitcoin could not resist the $10,924 level and fell below the 50-day SMA on Tuesday.
It seems that BTC/USD formed a “double top” after it had met resistance at the 61.8% of the 2017-2018 decline in the 13,500 area.
Finally, it happened! Both the Fed Chair and US president commented about cryptocurrencies yesterday. However, in a different way (such a surprise).
After its peak at the end of June, BTC/USD has been constantly forming lower highs and making significant legs to the downside.
The week has been emotionally unstable for BTC traders. After the surge during the first part of the week, when the price for Bitcoin tested the levels above $13,800, the digital asset fell below $11,000 on Thursday.
Read and find out the market movers
This week was super optimistic for Bitcoin bulls.
This week will bring us several bank's statements and more...