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Bitcoin [BTC/USD] Price Analysis: Cryptocurrency continues to fumbles as bear holds strong

The cryptocurrency market’s rollercoaster movement has done nothing to alleviate the concerns raised by users and investors alike. Popular cryptocurrencies like Bitcoin [BTC], XRP and Ethereum [ETH] have all felt the brunt of the bear, with several updates and developments still not doing enough to pull it out of the bear pit.

1 hour:

The one hour chart shows a declining sideways movement which has not changed much over the course of the last 10 days. The recent downtrend brought the prices down from $3513.3 to $3462.1. The support has been holding at $3435.7 while the immediate resistance is at $3565.2.

The Relative Strength Index has just spiked up on the chart, indicating an increase in buying pressure over the selling pressure.

The Awesome Oscillator shows a gradual lull on the chart, a sign of the decreasing market momentum.

1 day:

Bitcoin’s one-day graph shows a steep decline in its price as the bear lowered it to $3531 from $6463. The support has been holding at…

Read Full Story : AMBCrypto

2019-02-07 21:30:16

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