RATE Group | Bitcoin and Altcoins at Risk of Further Declines
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Bitcoin and Altcoins at Risk of Further Declines

12 Nov Bitcoin and Altcoins at Risk of Further Declines

Posted at 10:40h in Bitcoin News by

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After a short term upside correction, bitcoin price struggled to settle above USD 9,000. As a result, BTC/USD declined again and traded below the USD 8,850 support area. The price even traded to a new weekly low and it is currently (09:00 UTC) consolidating near the USD 8,750 level.
Similarly, most major altcoins resumed their decline, including ethereum, XRP, bitcoin cash, litecoin, EOS, BSV, ADA and XLM. ETH/USD struggled to settle above the USD 188 and USD 190 levels, and it is currently consolidating near USD 185. XRP/USD extended its decline and it is now trading below the USD 0.284 resistance.

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Bitcoin and Altcoins at Risk of Further Declines 101
Source: www.tradingview.com

Bitcoin price

In the past few sessions, bitcoin price followed a bearish path and yesterday’s recovery failed above the USD 9,000 level. BTC/USD is now trading below USD 9,000 and it seems like it could soon decline below the USD 8,700 and USD 8,620 levels. The next major support is near the USD 8,550 level, followed by USD…

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