Market Update: BTC Value Consolidates After Bouncing
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Market Update: BTC Value Consolidates After Bouncing

THELOGICALINDIAN - BTC markets accept produced alongside consolidatory amount activity in contempo canicule afterward bitcoins affecting blast from about 20230 USD to analysis a low of about 11000 and after animation up to the 0618 retracement breadth Most above altcoin markets accept bounced in concert with BTC

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Bitcoin Markets Bounce to Test 0.618 Retracement Area

In the actual after-effects of Bitcoin’s week-long retracement of about 45%, the markets produced several canicule of inclement alliance almost amid the $12,000 – $14,000 area. On the 26th of December, the BTC markets bankrupt aloft $14,000 with strength, ramping up to analysis attrition at the 0.618% Fibonacci retracement breadth of about $16,500 back barometer the move from the best aerial to the bounded abutment area. As of this writing, bitcoin is currently trading at about $14,850 on Bitfinex, and $14,900 on Bitstamp, whilst the CBOE and CME futures markets are trading for about $14,900 and $14,800, afterward the BTC markets’ enactment of actual abutment at the 0.382 breadth of almost $13,000.

Looking at the account chart, we can see that the academic RSI is almost at the 50 threshold. On the circadian chart, the academic RSI appears to be testing the 20 threshold.

Bitcoin Cash has connected to authority alternation with BTC, bearing a contempo animation that activated amid the 0.5 and the 0.618 retracement areas back barometer from the contempo aerial of about $4,100 to the bounded low of almost $1,600 on Bitfinex. As of this writing, BCH is accumulation at almost the $2500 area.

Altcoin Markets Consolidate After Establishing Lower Highs

Many altcoin markets accept maintained amount accord with BTC, with abundant markets actualization to aftermath lower highs afterwards abolition from almanac highs and bouncing in concert with bitcoin. As of this writing, ETH is accumulation at about $710 afterwards bouncing up to $765 area, LTC is accumulation at about $245 afterwards bouncing up the to $285 area, Dash is trading for about $1080 afterwards bouncing up to $1200, XMR is trading for almost $345 afterwards bouncing up to about $410, and ZEC is trading for about $465 afterwards testing bouncing to analysis attrition at $600.

Ripple has connected to accomplish new highs and baffle the alternation amid best arch altcoin markets and bitcoin, with XRP accepting produced assets of about 500% back the alpha of December. On the 1st of December, XRP was trading for beneath $0.25, afore bouncing off the $0.20 breadth during the additional anniversary of December, and again ramping up to breach aloft the above-mentioned best aerial of about $0.44 on December 13. Back then, Ripple has produced constant bullish action, accretion in amount by about 300% back breaking its above-mentioned best high. As of this writing, XRP is currently trading aloft $1.35 afterwards establishing a new almanac aerial of almost $1.40.

Do you anticipate that the bitcoin markets will access up to retest the $20,000 area, or do you anticipate that we will see addition leg bottomward to conceivably analysis the $10,000 amount zone? Share your thoughts in the comments area below!

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