The overall market price outlook for BTC and altcoins appears weak as the bears continue to dictate movement. There’s positivity however as Coinbase announced the possibility of adding five more assets to its premier exchange.
Analysts too, continue to differ as to how low or high Bitcoin can go, though all agree the bearish trend will hold for a while. The top crypto remains the most traded with a market dominance of 42.8%, with the entire cryptocurrency capitalization now at $254 billion.
Bitcoin prices continue to trade sideways as news emerge that Russian intelligence officers used Bitcoin funding to meddle in 2016 elections and a money launderer in Greece has been indicted on a $4 billion charge. Bitcoin returned to a bullish sentiment and chart patterns indicate an uptrend could see it break above and test support at $6,500.
However, near-term support above $6,100 will provide much-needed support. On the upside, BTC has to clear above a major resistance at $6,400, which has stopped more upside today.
BTC/USD is trading just under $6,365 and saw its upward momentum capped at $6,403 near the 21-day moving average. Earlier trading had seen prices touch a low of $6,192. Read more from stocksgazette.com…
thumbnail courtesy of stocksgazette.com