RATE Group | Bitcoin Price Climbing Back to $9K — Here’s the Key Level to Break
81802
post-template-default,single,single-post,postid-81802,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Price Climbing Back to $9K — Here’s the Key Level to Break

05 Mar Bitcoin Price Climbing Back to $9K — Here’s the Key Level to Break

Posted at 08:22h in Bitcoin News by

[ad_1]

Since making a strong attempt at reclaiming the $9K mark at the start of the month, Bitcoin (BTC) price has pulled back slightly but now trades in a tightening range between $8,662 and $8,946. The digital asset is attempting to retake $9K but continuously receives pushback at $8,969. 

The total crypto market cap chart shows that purchasing volume has ground to a halt and is yet to recover from the onslaught of last week. As shown below, the total market cap found support at $236.9 billion where there is a high volume node and currently the market cap is holding above the 200-day moving average.

Crypto total market cap daily chart

Crypto total market cap daily chart. Source: TradingView

For the time being, it seems investors are still sitting on their hands, assessing whether the spread of the Coronavirus will continue to negatively impact global markets, hence Bitcoin’s recent sideways price action. 

Crypto market daily price chart

Crypto market daily price chart. Source: Coin360

At the time of writing, Bitcoin price is also finding support at a…

[ad_2]

Source link

Tags:
, , , , , , ,