Movers and Shakers - 26/02/20
David Airben
Market
4 years ago
1 QCP
The bears take control, with Bitcoin facing the prospects of a visit to sub-$9,000. A move through to $9,420 levels would signal support.
Bitcoin slid by 3.58% on Tuesday. Following on from a 3.11% decline from Monday, Bitcoin ended the day at $9,327.5.
A bearish start to the day saw Bitcoin fall from an early morning high $9,674.9 to a mid-morning low $9,512.4 before finding support.
Steering clear of the first major support level at $9,402.87, Bitcoin recovered to a mid-day intraday high $9,691.9 before hitting reverse.
Falling short of the first major resistance level at $9,983.67, Bitcoin slid to a late intraday low $9,251.4.
Bitcoin fell through the first major support level at $9,402.87 and 38.2% FIB of $9,260.
Finding support late in the day, Bitcoin broke back through the 38.2% FIB to wrap up the day at $9,300 levels.
The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, with Bitcoin struggling to break out from $10,000 levels.
For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.
https://www.fxempire.com/news/article/the-crypto-daily-movers-and-shakers-26-02-20-635543
Bitcoin slid by 3.58% on Tuesday. Following on from a 3.11% decline from Monday, Bitcoin ended the day at $9,327.5.
A bearish start to the day saw Bitcoin fall from an early morning high $9,674.9 to a mid-morning low $9,512.4 before finding support.
Steering clear of the first major support level at $9,402.87, Bitcoin recovered to a mid-day intraday high $9,691.9 before hitting reverse.
Falling short of the first major resistance level at $9,983.67, Bitcoin slid to a late intraday low $9,251.4.
Bitcoin fell through the first major support level at $9,402.87 and 38.2% FIB of $9,260.
Finding support late in the day, Bitcoin broke back through the 38.2% FIB to wrap up the day at $9,300 levels.
The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, with Bitcoin struggling to break out from $10,000 levels.
For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.
https://www.fxempire.com/news/article/the-crypto-daily-movers-and-shakers-26-02-20-635543
- Cryptocurrency
- Bitcoin
- Crypto
- Crypto Daily
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