RATE Group | Bitcoin Price Facing New ‘Death Cross’ Suggests No $10K BTC Before May
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Bitcoin Price Facing New ‘Death Cross’ Suggests No $10K BTC Before May

26 Mar Bitcoin Price Facing New ‘Death Cross’ Suggests No $10K BTC Before May

Posted at 00:14h in Cryptocurrency News by

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Bitcoin (BTC) is trading at $6,670 representing a 1% gain in the last 24 hours but a gain of 14.66% off the weekly open at $5,815. Looking at performance relative to its peers, Ether (ETH) and XRP both underperformed versus Bitcoin last week against the U.S. dollar and have continued to do so. 

As a result, Bitcoin dominance is up 1.5% and pushing to reclaim 68% as there has been a general flight to safety in Bitcoin, although dominance is still down some 4% for the highs of the year at around 70%.

Cryptocurrency market 7-day view

Cryptocurrency market 7-day view. Source: Coin360

3-day Bitcoin chart

BTCUSD 3 Day chart

BTCUSD 3 Day chart. Source: Tradingview

Bitcoin is trading up against what is a fundamental decision point at $6.8K. This is previous support now acting as resistance and the top of a high volume node which is dissected by a diagonal resistance trend line, which dates back to mid-2019. 

Reclaiming $6.5K has been a sign of strength by the bulls who catapulted Bitcoin higher off the 200-week moving average in the mid $5Ks….

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