Tuesday, November 19, 2019
While the price found some support around the $8'500 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)
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