Wednesday, October 2, 2019
The price stabilized above $8'000 and the community increased its accuracy
Current support/resistance: $8'000/$8'500
Volatility has decreased slightly over the past two days. The price stabilized above $8,000, a good news after the sharp drop observed earlier this week. In terms of indicators, the market fell back to a more neutral region despite a long-term declining trend. The price is still below the 200-day moving average, which is the level to follow to expect a trend reversal. After seeing the altcoins market regain momentum compared to Bitcoin, which holds more than 65% of the total market capitalization, the altcoins market has suffered a bit since the Bitcoin has stabilized.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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