Bitcoin price prediction: BTC/USD clinches to $10,000 amid growing bearish pressure - Bitcoin confluence
Bitcoin (BTС) is changing hands marginally below $10,000. The first digital coin has lost over 3% since the beginning of the day and stayed amid increased bearish pressure. The price attempted to break above $11,000 on July 20, but the upside momentum failed to gain traction.
Bitcoin confluence levels
The Bitcoin (BTC) price is hovering around $10,000 with a bearish bias. The way to the South seems to be the path of least resistance as the area above the current price is packed with strong technical levels.
Ethereum, the second-largest cryptocurrency with the current market capitalization of $22.7 billion, settled above $211.00, having retreated from the recent high of $235.7o reached on July 20. ETH/USD is moving in sync with Bitcoin (BTC) and the rest of the cryptocurrency market driven mostly by technical and speculative factors.
Ethereum has lost nearly 6% of its value on a day-on-day basis and 2.6% since the beginning of Tuesday.
Litecoin’s value continued to thin under $100 amid rising selling pressure across the board. Bitcoin made a temporary dive under $10,000 while Ethereum tested the support at $210. The declines come after digital assets opened the week’s trading fairly stable.
As covered by FXStreet, the recovery from the lows around $77.50 failed to break the resistance at $105 paving the way for declines under $100. There has been a correction below the moving averages further giving the price a push below the broken support at $90.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.