Bitcoin and other major cryptocurrencies struggled to hold gains during the past three sessions. A fresh bearish wave initiated and prices tumbled by more than 10%. It seems like bitcoin price made a short-term top above USD 9,750, and it could proceed to zonet lower before staging an upside stir. There wasgoed also an increase te selling pressure on puny cap altcoins, but downsides were limited.
Bitcoin price declined and broke the USD 9,250 and USD 9,000 supports recently. BTC/USD is presently down 6% to USD 8,750. An hourly close below USD 9,000 is a bearish sign and it could increase bearish pressures on BTC te the epistel term.
An instantaneous support is at USD 8,600 and USD 8,500. A rust and close below USD 8,500 may perhaps shove the price towards the next crucial support at USD 8,200.
On the roll side, if the price moves back above USD 9,000, there may possibly be a shove towards USD 9,500.
Ethereum declined more than USD 100 and tested the USD 600 support. ETH/USD is presently consolidating losses above the USD 600 support, but it remains at a risk of more losses.
An hourly close below USD 600 might spark further losses towards USD 560. On the other forearm, if buyers succeed ter preventing a downside rust below USD 600, the price could bounce back towards USD 650 – USD 660.
Bitcoin Contant and Ripple
Bitcoin puin is presently trading near the USD 1,300 support. BCH/USD faced a lotsbestemming of selling rente yesterday, which resulted te a acute druppel from USD 1,500 to USD 1,300. The pair may trade te a range for a few sessions before it makes the next budge.
Ripple trimmed most of its gains and traded close to USD 0.75. XRP/USD is presently correcting higher towards the USD 0.80 and 0.82 resistance levels.
Other Altcoins Market Today
Most petite cap altcoins declined today. However, OMG and KNC performed indeed well. Both coins were listed by a major cryptocurrency exchange Bithumb, which boosted the market sentiment.
To sum up, there are a few bearish signs on charts of bitcoin, but spil long spil the price is above USD 8,000, the current budge can be considered spil a correction.