Monday, August 12, 2019
Reducing volumes through the weekend conducted by a price diminution, the trend seems to be contracting.
Current support/resistance: $11'000/$11'600
Bitcoin price is struggling to recover from the sudden drop of Saturday. Surprisingly, most of the Altcoins are now in the green, outperforming Bitcoin this weekend. The market dominance is still largely own by Bitcoin, 68.4% and the market share of the cryptos above the top 20 is going down alarmingly fast.
The price is getting closer to the 20 days moving average and the MACD lines are now converging. The short term trend is hanging, the outcome will be revealed when the key levels are broken.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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