THELOGICALINDIAN - The US Treasury Secretary accent bygone was abundantly advised as bullish for Bitcoin by those in the industry BTC itself confused six percent aback up to blow 11k but it has aback slid aback and is in crisis of falling aback to the acute 10000 akin today
Bitcoin Bears Awakening
Bitcoin’s assets over the accomplished 24 hours are gradually actuality breakable afresh as the Asian trading affair block into the US, which is usually the added bearish. From an intraday aerial of just over $11,000, BTC has beneath aback to aloof beneath $10,500 at the time of writing. With a abortion to breach attrition added losses are attractive likely.
Daily aggregate has collapsed off hardly as the agenda asset continues to accomplish lower highs and lower lows. The arch and amateur arrangement appears to be arena out admitting there has yet to be a abiding breach of the neckline.
Analyst and trader, Josh Rager, has been eyeing the four hour blueprint acquainted that abutment has been burst alert with the abutting akin at aloof beneath $10,200.
“A quick bead in amount over the aftermost two candles with the breadth to watch as abutment at $10,191. On the 4 hour chart, as continued as it closes aloft that akin it will abide to accomplish higher-lows and advance a alignment pattern. Close beneath that breadth and it’s bearish.”
$BTC Amount Update
A quick bead in amount over the aftermost two candles with the breadth to watch as abutment at $10,191
On the 4 hour chart, as continued as it closes aloft that akin it will abide to accomplish higher-lows and advance a alignment pattern
Close beneath that breadth and it's bearish pic.twitter.com/IHwxb1SG4v
— Josh Rager ? (@Josh_Rager) July 16, 2019
He followed up with a attending at the best appellation account blueprint celebratory that altered time frames acquaint a altered story. The account and ages archive are assuming that the buyers accept become beat while added alliance could be accessible from patterns on beneath time anatomy charts.
“Each time anatomy tells a altered story. The 4hr & LTF shows alliance (ranging) in a abbreviating pattern. While the circadian blueprint shows lower-lows/lower-highs. Weekly/Monthly archive appearance a bright bounce with abridgement of buying. = Neutral to bearish bent atm”
$BTC Time Frames
Each time anatomy tells a altered adventure
The 4hr & LTF shows alliance (ranging) in a abbreviating pattern
While the circadian blueprint shows lower-lows/lower-highs
Weekly/Monthly archive appearance a bright bounce with abridgement of buying
= Neutral to bearish bent atm pic.twitter.com/zyBd1X24vs
— Josh Rager ? (@Josh_Rager) July 16, 2019
The bead aback to four abstracts would arresting the activation of the bears which could see the alteration go all the way aback to about $8,000.
There has been a little accretion from Monday’s $35 billion crypto crush, but that has mostly been Bitcoin bouncing off support. The account trend is still bottomward and the abutting move will be acute for BTC.
Altcoins Axed Again
As accepted the altcoins are accepting punished again. Ethereum has collapsed beneath $220 in a 3 percent abatement and EOS is accepting ashamed aback to $4 as it block bottomward the top ten. There are alone a scattering of altcoins authoritative any advance today and they accommodate Cosmos, Ethereum Classic and NEM.
Total crypto market capitalization is aback area it was this time bygone at $280 billion but aggregate is in abatement as the bears activate to rouse.
