After a week with a price that reached levels close to $ 3900- $ 4000, and a cumulative weekly growth of up to 1.5%; Bitcoin is once again pushed into the bear market, where the bears took control early on Monday, trying to push the price to the $ 3600 range again.
Bitcoin is going to move sideways in this small trading range (3850-3700) until it has made a decision.A move above 3850 would be bullish and will likely send us to 3950 and a move below 3680 would be bearish, likely sending us to our 3500-3550 support.
BTC tested support at $ 3700 and still holding well so far. Expecting a pull back to test resistance at $ 3900- $ 4000 in short term as the new support is holding strong.
Our stance remains bullish on bitcoin unless we break this key support level at 3700.
Going down to the level of $ 3600, it is possible in the medium term a reversal of this trend in the medium term for levels of $ 4000- $ 4200.
Bitcoin maintains the domain of the ecosystem, maintaining the number one position with a capitalization market that is around $ 66 billion dollars, despite having reduced its volume and its price by just over two percentage points in the last hours.
Bitmex, remains the first contribution for the cryptocurrency, with a market share participation of just over 11%.
Ethereum’s Constantinople upgrade went live at block 7,280,000 . As for the price , just sideways .A Move below 129 is very bearish and will almost definitely send us to test our strong support at 120.
HTF looking good with an excellent weekly close, thereby not validating the previous inverted hammer candle close.
LTF on the other-hand isn’t looking so good. Unless we get back above $127 then price looks headed to ~$118.
At the time of writing, Ethereum remains in second place with almost $ 1 million of advantage over Ripple (XRP), its closest contender. In the last 24 hours Ethereum has collapsed by almost 5%.
The cryptocurrency at the time of writing has a spot price of $ 0.004266 with a -4.92% drop in the last 24 hours of the market. Its market capitalization of $236 million keeps it in the ranking 25 of the ecosystem according to CoinMarketCap.com.
Vechain moves like the rest of the market: in land of bears for the next two days.
A fall in its price is expected in the range of 3-4% more than the current one, according to the projected graph, a the cut-off point is projected for the next 3 days (short term).
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