Tuesday, November 19, 2019
While the price found some support around the $8'550 level this weekend, it was broken heavily this Monday.
Current support/resistance: $8'000/$8'300
The bears continue to gain territory as Bitcoin plunged this Monday. However, the leading cryptocurrency did not drag all the alt-coins with it this time. The second biggest cryptocurrency showed some impressive resilience, by being more stable. A few other cryptocurrencies have outperformed Bitcoin, and this might shift the interest of investors to altcoins. Speaking strictly about Bitcoin, the adoption continue to increase with more merchants accepting it, new credit-card allowing to use Bitcoin, and more. However, in terms of price, the trend does not look all too good for the future and a break of the current level is likely. The next support would lie around $7'600.
The technical indicators continue to signal the down trend and no sign of recovery is apparent.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
Disclaimer: This is our way of communicating with our community. It is meant to be used for informational purposes not to be mistaken for financial advice. Our opinion, when shared, is just that, it may not apply directly to your individual situation. Any information gleaned here is to be used at the readers' own risk, SwissBorg does not accept any responsibility for individual decisions made based on reading our daily blog. Any information we provide on our daily blog is accurate and true to the best of our knowledge, there may be omissions, errors or mistakes. Copyright © 2019 SwissBorg, All rights reserved.