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Bitcoin [BTC] Price Analysis: Coin gasps as bear tightens hold


The cryptocurrency market has been overwhelmed by the bear’s presence, resulting in a poor performance by most major coins. Bitcoin [BTC] has been seeing the longest bear market ever seen and a change in trend is nowhere in site.

At the time of press, the BTC was valued at $3,402.07, with a market cap of $59.6 billion. The coin recorded a 24-hour trading volume of $5 billion, while noting a fall of 0.43% over the past day. The coin has been falling as it registered a fall over seven days of 1.44% and continued its downward spiral by a dip of 0.21% over the past hour.

1-hour

Source: Trading view

Source: Trading view

The one hour chart of BTC marked an uptrend from $3,468.43 to $3,449.14. The coin noted a downtrend from $3,468.43 to $3,367.49. The coin drew resistance at $3,379.33 and support at $3,354.99.

Awesome Oscillator indicates a weakened bearish run.

Bollinger Bands appear to be converging, reducing market volatility. The moving average line is over the candlesticks, marking a bearish…



Read Full Story : AMBCrypto

2019-02-08 18:30:18

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Written by Ambcrypto

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