An overview of today's cryptocurrency market Sunday, April 11

Bitcoin drops back below $ 60,000

After three weeks of waiting, Bitcoin finally reached the price level of more than $ 60,000 yesterday. In addition, the currency moved upwards and reached the price level of $ 61,200.

However, the situation has changed since then. Just when everyone was very happy with the trend, Bitcoin started to retreat again.

In the following hours, Bitcoin lost about $ 2,000 and reached a lower price level of $ 58,300 at (Bitstamp Exchange) and was able to return to above 60 before falling to its current level of $ 59,500. , Reach $ 000.

 Technical indicators show that $ 60,000 is the first major resistance level against the rise of Bitcoin, which could not close the daily candle above yesterday. If the Bitcoin is bullish, it will have to cross the next resistance level of $ 61,170. This price level is the same as the peak price of March, which is $ 61,780. The price could continue to decline if the Bitcoin goes below the support levels of $ 59,070, $ 58,355 and $ 57,695.

Ripple jump to higher levels; XLM among the top 10 currencies

The Altcoin market also had a pleasant trend since Saturday. Atrium was able to reach the highest price level of $ 2200 with the highest price in all time. However, the second largest digital currency at the time fell slightly more than 2% to just over $ 2,100.

Baines Quinn (BNB) also set a new record at $ 485, but calmed down to $ 475. Nevertheless, Binance Quinn has grown by more than 40% over the past week.

Polkadot (-5%), Cardano (-3%), Uniswap (-4%), and Chainlink (-3%) also moved again in the 24-hour timeframe.

Meanwhile, LightQueen rose 10% to $ 250 and Stellar rose 25% to $ 0.61. Also, XLM currency in the market has replaced LINK currency in the list of top 10 currencies in the market.

Ripple performed better than all the larger altcoins. The blockchain-based payment processor won another legal battle against the SEC because Judge Net. Sarah Netburn stopped the commission from trying to access the personal financial records of Ripple executives.

Ripple was able to rise about 40% in the next few hours, hitting a three-year high of $ 1.4.

We saw an increase in digital currencies including Elrond (15%), Reserve Rights (13%), Zcash (10%), IOTA (10%), and NEM (10%).

Despite some corrections in currencies such as Dent (-16%), Holo (-15%), KuCoin Token (-15%), Pundi X (-15%) and others, the market value of cryptocurrencies is over 2 trillion The dollar remained.

Bitcoin Analysis Sunday, April 4

Bitcoin Analysis Sunday, April 4

Last week, the price of Bitcoin surpassed $ 55,500 with a steady rise. The BTC / USD pair also broke the $ 58,000 resistance and was higher than the simple moving average of 100 (4 hours).

The pair even crossed the $ 59,500 level and continued its upward trend above the $ 60,000 resistance. However, the price did not close above the $ 60,000 level, but the price ceiling was set at around $ 60,030, after which a new downward trend began. In this downtrend, the support levels of $ 58,500 and $ 58,000 were broken.

The price of Bitcoin fell below the correction level of 23.6% Fibonacci retracement of the volatile price of $ 50,465 fell to the price level of $ 60,630. The BTC / USD 4-hour chart also shows a price break below a bullish uptrend line with support near $ 59,000.

The pair touched the $ 56500 support area and the simple moving average of 100 (4 hours). In addition, another uptrend line has formed with support at nearly $ 56,800 in the same chart.

If below the trend line support, the level of $ 56,500 and the simple moving average of 100 (4 hours) we see a downward price break, there is a possibility of a sudden fall to $ 55,250. This level is close to the 50% Fibonacci retracement level of the $ 50,465 uptrend to $ 60,630. Any further reductions may touch the $ 53,800 level.

If Bitcoin can stay above the $ 56500 support and the simple moving average of 100 (4 hours), it will probably face a price increase again.

The first major resistance to bitcoin is nearing $ 58,000. Closing the price above the $ 58,000 level could pave the way for a move to the 60,000 resistance area. The next major hurdle is close to $ 62,000.

Technical indicators

The MACD is accelerating hourly for the BTC / USD pair in the downtrend area.

The hourly RSI for the BTC / USD pair is currently below the 50 level.

Main Support: $ 56500

Main resistors: $ 58,000

An overview of the cryptocurrency market today February 13

An overview of the cryptocurrency market today Saturday, February 13

On February 12, the price of Bitcoin (BTC) reached its all-time high of $ 48,985 before returning to the $ 46,000 level.

A quick look at the 4-hour chart of this currency shows that the trading of this high-ranking cryptocurrency is in the consolidation stage, but BTC still maintains its bullish momentum through the higher price ceiling pattern and higher price floor. If BTC can maintain its current speed and structure, it is likely that we will see a move towards the $ 50,000 level before the end of the weekend.
Bitcoin currently has about four million coins in circulation, and since June 2020, this figure has been steadily declining due to an increase in whales and corporate investors.

With the increase in wallets containing more than 1,000 BTC units, there is growing evidence that whales are growing. As the number of large wallets increases, so does the number of smaller wallets.

Traditional markets came under pressure early Friday after federal regulators announced Feb. 11 that regulators had launched probes to investigate possible market manipulation of the abnormal jump in GameStop and AMC shares on Robinhood and Reddit.

All three main indices then jumped higher and ended the day with the S&P 500 and NASDAQ trading at 0.47% and 0.50%, respectively. The Dow Jones Industrial Average was up 0.09%.

Atrium (ETH) entered another unknown territory on Friday with a new record of $ 1863, while Polkadat (DOT) reached 29.52 overnight, rising 21 percent among the top 10 currencies.

Other altcoins that have outperformed in the last 24 hours include the Algrand Net Proof Protocol (ALGO), which has risen 38% to a high of $ 1.84. Thezos (XTZ) also rose 23% to a new record of $ 5.41.

Currently, the total market value of cryptocurrencies is $ 1.48 trillion and the bitcoin market dominance rate is 60.4%.