The first crypto continues to demonstrate a roller coaster. Today, its price has changed in the range of $4,000. Forecast for the next couple of days bearish
Today, as we said yesterday, the bulls again attempted to break through the ceiling of $59,000-60,000 thousand. But it failed. The price of Bitcoin failed to reach even yesterday's high and did not rise above $59,000. The highest reached point today is $57,899, according to CoinMarketCap.
The $56,000 support didn't work. Bitcoin fell lower and set a new weekly low of $53,774. If the situation does not change in the coming hours, the cryptocurrency is unlikely to be able to make active growth.
All indicators are now showing a decline. The capitalization of Bitcoin has fallen by 4.11%, but still remains above one trillion. The daily volume of trading also fell. At the moment it is $67 billion (-5.59%).
It is likely that the cryptocurrency will be traded in the resulting high volatility gap 59-53 000 dollars. Until there is a radical turnaround of the situation.
It is worth noting that Bitcoin has been trading on a bear market since the end of April. Despite the fact that the crypto has recovered from the loss of 25% and even a couple of times came up to 60,000 dollars, probably the bulls now have neither the strength nor the means to buy this drop.
The last maximum was set too quickly. After all, almost immediately the market began to lose momentum, and the bulls could not keep the bar of the championship. Despite the two strong bullish waves we have seen since the end of April, the situation has not changed dramatically.
Moreover, when trying to set a maximum, Bitcoin is increasingly being diverted towards new lows. It's like a desperate drowning flounder. Alas, at the moment there is no need to talk about a bullish trend.
Funds are actively flowing into the altcoin market. Compared to bitcoin, Ethereum feels great. It continues to confidently hold the bar of $4000, from where good prospects to new highs are opened.
You can find out the current price for Bitcoin and ETH on the Poloniex exchange. Let's see what the market will cook for us tomorrow.
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