THELOGICALINDIAN - Bitcoin is in the action of addled lower today with sellers accepting an bend over buyers as the abutment at 16000 shows signs of dissolving
Where BTC and the blow of the bazaar trends abutting will acceptable depend on tomorrow evening’s account candle close. If it can best this akin and abutting aloft it, beasts could achieve ascendancy of its amount action.
One banker believes that a connected bender of alliance could augur able-bodied for altcoins, potentially acceptance them to abide rocketing higher.
Bitcoin Hits Critical Support Level
At the time of writing, Bitcoin is trading bottomward aloof over 3% at its accepted amount of $15,820. This marks a notable abatement from contempo highs of $16,500 set at the aiguille of its contempo advance higher.
This abatement has beatific it bottomward to its key abutment at $15,800, which is a akin that has continued been watched by analysts and investors as a key abutment level.
If burst durably beneath over any college time frame, it could be a assurance that downside is imminent.
Analyst: Altcoins Looking Strong Despite BTC Weakness
One analyst empiric that altcoins are attractive able admitting the declines apparent by ETH and BTC today.
He additionally addendum that Bitcoin is now trading aloft a acute aerial time anatomy abutment level.
The advancing few canicule should accommodate acumen into the abiding acceptation of this move. Where it trends abutting may depend abundantly on its account candle abutting tomorrow.
