Economic news

Bitcoin stalls below 100-day moving average

Bitcoin’s price move put the brake on below the 100-day sliding average, heightening chances of the next future sell-off.

bitcoin prices 0209Photo: Pixabay

The technical analysis prove no signs of a digital currency easing in bearish selling sentiment, in particular not for the next several days.

The one of the most famous digital currency halted its move below the 100-day moving average after short-term increase over weekend, thus bringing a soft hope for a shift into a bearish trend.

This move could mean, that a balance between purchaser and sellers had all chances to appear amid rope pulling in a range of $9,300 and $9,900.

The longer Bitcoin keeps the resistance level the higher the chance for the next major sell-off as its value continue to be discovered.

Bullish trend will receive the support if during this month a rally follows, or the Bitcoin’s price rises above $10.800.

As for the cryptocurrency rates for first working day are as follows:

  • Bitcoin gained 1.95 percent, at $9.828 at 12.10 GMT;

  • Ethereum added 1.03 percent, to $172.06;

  • Ripple eased by 0.08 percent, at $0.255;

  • Bitcoin Cash surged by 2.03 percent, to $286,60;

  • Litecoin weakened by 0.68 percent, to $65.95.


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