RATE Group | Bitcoin and Altcoins Vulnerable to a Further Correction
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Bitcoin and Altcoins Vulnerable to a Further Correction

21 May Bitcoin and Altcoins Vulnerable to a Further Correction

Posted at 11:53h in Bitcoin News by

Bitcoin price made many attempts to overcome the USD 9,950 and USD 10,000 resistance levels, but it failed. As a result, BTC reacted to the downside and broke a couple of key supports near the USD 9,550 level. It has opened the doors for a downside correction towards USD 9,000 or even USD 8,850.

Similarly, most major altcoins started a fresh decline and followed bitcoin, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD is down (08:30 UTC) close to 3% and it broke the USD 210 support zone. XPR is also sliding and it is now trading below the USD 0.200 support.

Total market capitalization

Bitcoin and Altcoins Vulnerable to a Further Correction 101
Source: www.tradingview.com

Bitcoin price

After another rejection close to USD 9,900, bitcoin price started a decline. BTC broke the USD 9,600 and USD 9,550 support levels to move into a short term bearish zone. The price is down close to 4% and it is now approaching the USD 9,400 level. The next key supports on the downside are near USD 9,200 and USD…

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