Bitcoin price analysis: BTC/USD finds new dwellings above $7,000 after a stormy winter night

  • Ethereum is down 13.5% on the day, followed closely by Bitcoin Cash after a 13.21% loss.
  • All the major cryptocurrencies will usher in the weekend session with great losses.

Bitcoin came from the rags and ascended the realm of the rich only to fall right back. The fall that is rumored to have been caused by a massive selloff and liquidation on BitStamp exchange affected the entire market cryptos navigated the sea of red. In fact, all the major cryptocurrencies will usher in the weekend session with great losses.

Ethereum is down 13.5% on the day, followed closely by Bitcoin Cash after a 13.21% loss. Ripple is swimming in the red with double-digit losses of 11.29% while EOS is down 8.93%. The rest of the top twenty cryptocurrencies are making losses between 7% and 11% as the data on the intraday charts.

After Bitcoin found support at $6,500 it corrected above $7,000 almost immediately. However, the upside has been limited below $7,500 while $7,000 is working as key support. Meanwhile, Bitcoin has found new dwellings in this range.

BTC/USD 1-hour chart

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