RATE Group | Bitcoin Could Decline Further, Altcoins Won’t Go Down Quietly
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Bitcoin Could Decline Further, Altcoins Won’t Go Down Quietly

27 Sep Bitcoin Could Decline Further, Altcoins Won’t Go Down Quietly

Posted at 17:57h in Bitcoin News by

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After consolidating losses and a short term upside correction, bitcoin price resumed its decline below the USD 8,300 level. BTC/USD even broke the USD 8,000 support area and traded to a new monthly low near USD 7,750. The price is currently correcting losses (08:00 UTC), but upsides are likely to remain capped near USD 8,250 and USD 8,300. On the other hand, downsides were contained in many major altcoins, including ethereum, ripple, EOS, bitcoin cash, litecoin, binance coin, tron and cardano. ETH/USD retested the USD 155 support level and bounced back above USD 165. XRP/USD is currently consolidating losses and facing hurdles near the USD 0.245 and USD 0.250 levels.

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Bitcoin Could Decline Further, Altcoins Won't Go Down Quietly 101
Source: www.tradingview.com

Bitcoin price

There was a downside extension in bitcoin price below the USD 8,200 and USD 8,000 support levels. BTC/USD tested the USD 7,750 area and it is currently correcting higher. An immediate resistance is near the USD 8,150 and USD 8,200 levels….

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