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Market analysis & News
Ahoy everyone!
📊 The price of Bitcoin is currently at
$3,842.44 (binance pricing) and the total market capitalization is
$129 billion.
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Unpopular opinion of the day •
https://twitter.com/YarrPiratez/status/1100380744629796864The cryptocurrency market is surrounded by the manipulation claims once again after the price of Bitcoin had major pullback from the $4,200 resistance level. We believe that the market was built on hype, unrealistic expectations and on thin volume.
Bitcoin was showing buying climax (bearish pattern) and diminishing buying volume while the price was trying to break the $4,200 resistance level.
When there's not enough of buyers then the uptrend is not likely to be continued either. So it's still better to set realistic expectations and not to get caught by the hype which might give false narratives for the price movement.
❓So what's next?
It's unclear to say where Bitcoin wants to move next so it's better to let the market to breathe and wait for new trading opportunities. It's moving below of the ascending channel and the bottom is working as resistance which could lead for further rejection.
On the larger scale we can see that the price is consolidating inside of the large trading range which should be monitored and the major levels in it for potential trade opportunities.
Alt coins are giving better swing trading and day trading opportunities than the larger caps at the moment.
❇️ News Highlights.
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One of the biggest Swiss Private Bank is entering in the crypto market.
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NASDAQ offering BTC and ETH indices from today
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XRP is launching on Coinbase Pro
❤️ if you'd like to have chat with us or other cryptocurrency enthuastics feel free to join our public chat room here:
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t.me/yarrchatHappy trading and be safe!