Market update: BitcoinsteemCreated with Sketch.

in #bicoin • 7 years ago

Hello everyone, Bitcoin decline from $9k support. It formed a V-Top reversal which means sellers were very aggressive at $9k levels. 

As though the market as a whole knew the move was way overextended, except for FOMO buyers, they got dumped on...

It is currently being held by 200MA as a support around $8.7k-$8.8k level.

The decline is slowing down currently and many alts had some mini bounces. 

However, Bitcoin still dictates the direction. 

The next level of support is the 50MA at around $8.4k. Overall the structure still looks good. 

Currently, not many Alts are screaming in our face as `Buy Me!’ We are waiting for Bitcoin 4hour to reach oversold before making any moves. 

The move from KyberNetwork(KNC) and OmiseGo(OMG) was because they are getting listed on Bithumb.

#market #update #news
7 years ago in #bicoin by
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