Bitcoin lost support at $8,000 again on Oct. 18 after a brief recovery ended up further downward selling pressure.
As Cointelegraph reported, analysts were dismissive of the upward momentum, with the broader health of the Bitcoin price still subject to suspicion.
Zooming out, they considered little to have changed as Bitcoin fluctuated around the $8,000 mark.
"Well, not showing strength after a small bearish retest. Looks like a copy of beginning October & still hanging around here in the green 'support' zones," Cointelegraph contributor Michaël van der Poppe summarized in a Twitter analysis.
Those zones represent longer-term trends, which BTC/USD continues to test.
The last bastion of support in the lowest zone lies around $7,400.
For van der Poppe, that area forms the obvious destination if current levels break down further.
Altcoin markets remained choppy as Bitcoin fought off its latest turbulence.
Litecoin also posted modest gains, rising 2.6%. Ether, the largest altcoin by market cap, was down a negligible 0.4% and trading at $174.Ether 7-day price chart.
The overall cryptocurrency market cap was 66.1% dominated by Bitcoin, with a total value of $217 billion.
Next Is $7.4K If Support Zone Breaks: Analyst
gepubliceerd op Oct 18, 2019
by Cointele | gepubliceerd op Coinage
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