RATE Group | Bitcoin hits the brick wall at $6,600, retreat to $6,000 imminent
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Bitcoin hits the brick wall at $6,600, retreat to $6,000 imminent

24 Mar Bitcoin hits the brick wall at $6,600, retreat to $6,000 imminent

Posted at 17:38h in Cryptocurrency News by

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  • The cryptocurrency market goes wild with Bitcoin and all major altcoins growing strongly.
  • BTC/USD failed to pass a critical resistance and reverted to the downside.

The cryptocurrency market has demonstrated its volatile nature once again. Bitcoin and all major altcoins experience a sharp rally ahead of the US opening, but the upside momentum started fading away on approach to critical technical levels.

The US stock indices opened in a green zone as the President of the United States Donald Trump may ease lockdown to keep the economy running. While the decision may be questionable from the health care point of view, a business may seek it as a relief in the short run. According to the Federal Reserve Bank of St. Louis President James Bullard, the unemployment rate may hit 30% in Q2 due to massive shutdowns.

Top-3 coins overview

BTC/USD hit the recent high at $6,620 and retreated to $6,200 by press time. The coin failed to pass a strong barrier and dropped…

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