August 16, 2019 at 09:38AM
The bulls are in a desperate fight for the most important threshold and psychological level of $10K. The bull and bear confrontation this time seems particularly fierce. The statistics on trading volumes looks rather unusual. If in the past the corrections were accompanied by the growth of trading volumes, and later the market was going through the consolidation stage for some time, now Bitcoin buyers come into battle immediately after the decline.
Bitcoin rebound attempts are accompanied by an increase in trading volumes. On the whole, since August 13, they have grown by 56%. At night, buyers pushed Bitcoin above $10,400, but by Friday morning Bitcoin had fallen back under $10,000. The confrontation of bulls and bears this time seems especially fierce, but the potential of bears at the moment looks more significant due to the existing technical picture.
The BTCUSD declined under the 50-day moving average, which had previously withstood several times, and it is a strong signal to sell for the fans of the tech analysis, which is very popular among the traders in the crypto market.
From: The FxPro Analyst Team https://fxpro.news/analysis-and-insight/bit-comment-bitcoins-desperate-fight-for-10k-20190816/
Selected by fonecable.com
- NEWS: Trump says Fed should cut by 100 bps and restart QE August 19, 2019 at 04:30PM
- Weekly Trade Levels: US Dollar, EUR/USD, USD/CAD, Gold, Silver & SPX
- NEWS: EURUSD back below 1.1100. Can it stay below now? August 19, 2019 at 04:20PM
- NEWS: The FX market is subdued today August 19, 2019 at 04:03PM
- US Markets Analysis: Dollar Index (DXY), Dow Jones (DJI) Price Outlook
Top Posts & Pages
- Gold Price Forecast: RSI Sell Signal Takes Shape
- NEWS: China interest rate liberalisation announced- one step closer to free-floating yuan August 19, 2019 at 01:57AM
- NEWS: More from Trump - China wants to make a deal, we'll see what happens August 18, 2019 at 09:39PM
- NEWS: More on China lending reforms - new bank loans to be cheaper from this week August 19, 2019 at 04:14AM
- Yuan wobbles on Trump trade comments, details of China rate reforms awaited
- US Dollar May Rise vs Nordic FX From Trade Wars, FOMC Minutes
- Bitcoin (BTC) Price Could Accelerate If It Breaks $10,600
- NEWS: Weekend Italy: 5-Star Movement says Salvini no longer a credible partner August 18, 2019 at 11:08PM
- NEWS: Event risk playbook for the week beginning August 19 August 18, 2019 at 03:23PM
- NEWS: Japan - Reuters Tankan report - manufacturing index hits lowest since 2013 August 19, 2019 at 12:03AM