RATE Group | Bitcoin Price Continues to Bleed as Market Fails to Find a Bottom
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Bitcoin Price Continues to Bleed as Market Fails to Find a Bottom

27 Nov Bitcoin Price Continues to Bleed as Market Fails to Find a Bottom

Posted at 01:11h in Bitcoin News by

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The bitcoin price on Monday continued its crash course despite showing gains during the early Asian trading session. The digital currency attempted a go at its yearly low at ~$3,455 after reversing from its intraday peak at $4,115. That overall marked a circa 14 percent crash, setting standards for a further bearish action.

The BTC/USD index at press time is trading at 3581-fiat, eyeing potential support from 3508-fiat. The market has once again created a psychological bottom area inside a 3000-to-3500-fiat range. There is so far no evidence that could prove a potential [strong] reversal at any of these levels. The last time BTC/USD tested these levels as support was in September 2017. The technical dynamics were different then — the pair was trending above its 50-period, 100-period, and 200-period simple moving averages while…

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