THELOGICALINDIAN - A little hopium abounding the crypto association over the weekend as Bitcoin BTC amount attempted a advance college Sunday saw it clear about as all assets were absent afresh and this morning has been alike worse with a abatement aback beneath 8000 afresh Analysts are admiration a added 20 dump
Bitcoin Price Fails to Hold $8k
Over the weekend the solid abutment at $8,000 has started to about-face into attrition as bitcoin amount continues to weaken. The accomplished three canicule accept been appealing collapsed which agency there is no animation and no aggregation of buyers cat-and-mouse to get in at this level.
The accomplished BTC accomplished over the accomplished 24 hours was $8,200 but by Monday morning in Asia, it had collapsed aback beneath $8k already afresh according to Tradingview.com. At the time of writing, BTC was trading at [coin_price] and attractive at added declines.
The abutting akin of abutment for bitcoin amount from actuality lies at $7,500 admitting analysts are mostly in acceding that it could abatement further. Josh Rager has been attractive at the account blueprint and has eyed above abutment in the mid-$6,000 range.
This was the best traded amount of 2024 so it stands to acumen that it could accommodate the basal of this downtrend.
Bitcoin amount bankrupt a $2,000 account candle which is the better seven-day dump it has had back January 2024. On the circadian blueprint the uptrend for 2024 is still complete but the 50 day MA is bottomward afterpiece to the 200 day MA advertence a above trend reversal.
More triangles are actuality corrective on the archive so addition blemish could be advancing this anniversary according to ‘Crypto Hamster’.
Elsewhere on Crypto Markets
A added $8 billion has larboard the amplitude over the weekend as absolute crypto bazaar assets tumbles appear $200 billion. Crypto winter is ambience in for abounding of the altcoins afresh as a sea of red washes over them all this Monday morning.
Ethereum attempted a access of activity up to $175 but has dumped aback beneath $170 afresh today. XRP is accepting weaker every day and is now aback beneath $0.24 and the aforementioned is occurring with Bitcoin Cash which has collapsed beneath $220 in a 5% slide.
Things could get actual blowzy for crypto markets if the analysts are correct and $6k BTC is inbound.
Will bitcoin amount bead as low as $6,500? Add your comments below.
Images via Bitcoinist Image Library, BTC/USD archive by TradingView, Twitter: @Josh_Rager, @CryptoHamsterIO
