On July 23rd, the value of the first cryptocurrency, Bitcoin, dropped to $10,000. According to statistics, the digital gold exchange rate sank by more than 5% with a slight recovery to $10,070.
Bitcoin rate falls
Today, the cost of the main cryptocurrency has dropped to the psychological support line of $10,000. It is expected that the course may again be in the area of four digits. Now, there is a noticeable slight recovery to $10,070, which is unlikely to be able to influence further developments.
Interesting in the section: Confrontation of bitcoin and Bitcoin cash
Most technical indicators (including moving average indicators) point to a quick decline in the price of Bitcoin. In addition, market indicators (STOCH RSI (14), Williams% R) indicate a high oversold market, which also adversely affects the forecasts of the course of digital gold.
Now, the points of resistance (weekly timeframe) of the main crypto-asset have settled on: the first for 11,116 dollars, the second – 12,692, and the third for 13,995 US dollars. From this we can conclude that the reversal of the bearish trend in the market can only be talked about after passing a barrier of $13,000.
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details session (on the hourly timeframe) is characterized by positive moods. Thus, bullish signals appeared on the candlestick chart, which indicate a possible improvement in the situation in the short term.
The cost of Bitcoin again balances at around $10,000. Recall that studies have shown that Bitcoin is 800 times safer than fiat currencies.
Editor: Godfrid Brower