RATE Group | Bears push Bitcoin towards channel support
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Bears push Bitcoin towards channel support

12 Dec Bears push Bitcoin towards channel support

Posted at 06:15h in Bitcoin News by

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  • Bitcoin (BTC) continues sliding down towards the channel support
  • Altcoins are directionless, mostly range-bound with bearish bias.

The cryptocurrency market is a mixed picture on Thursday. Bitcoin and all major altcoins are fluctuating in tight ranges, mostly with a bearish bias, though the critical technical levels stay intact so far. 

Chainlink is the biggest loser. The coin is down 6% on a day-to-day basis amid technical correction after a strong upside movement. Cosmos has been outperforming the market with 4% of gains.  

The total cryptocurrency market capitalization decreased to $195 billion from $197 on Wednesday; an average daily trading volume stayed settled at $57 billion. Bitcoin’s market share is registered at 66.7%.

Top-3 coins price overview 

On the intraday charts, BTC/USD is moving within a bearish trend. The first digital coin slipped below $7,200 support and hit $7,076 during early Asian hours. The pivotal $7,000 remains unbroken;…

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