A look at Bitcoin market today. Nictrades shows you how she uses technical analysis to read the markets and what to look for in the next 24 hours.
Author
Nicola Duke
Nictrades
Nicola Duke is a professional trader. She teaches trend following systems that she has employed for over a decade as an independent & hedge fund trader with real time examples in Forex, cryptocurrency, commodities and stocks.
Ripple edges lower while trading around $1.13 at the time of writing on Tuesday. The remittance token upholds a broader bearish bias, attributed to softening retail interest and the lack of strong catalysts to prevent rallies from being sold as investors appear to prefer short-term gains.
Bitcoin falls below $64,000 on Tuesday, erasing part of the recent gains following six consecutive days of price rises. Institutional demand shows signs of recovery, with spot ETFs recording a second day of inflows through Monday after weeks of outflows.
The cryptocurrency market continues to struggle with dominant headwinds, with Bitcoin (BTC) hovering around the short-term $63,000 support, Ethereum (ETH) holding below $1,800 and Ripple (XRP) testing the demand area at $1.13.
Pi Network is trading near its lowest level at $0.1100 on Tuesday, under intense downside pressure. PI remains vulnerable to steeper corrections, with its fourth straight day of losses amid weak market-wide risk appetite.
![Is Bitcoin about to take a dirty dive? [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Digital Currencies/Bitcoin/bitcoin_5.jpg)