RATE Group | BTC/USD fresh selloff targets $5,500 – Confluence Detector
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BTC/USD fresh selloff targets $5,500 – Confluence Detector

18 Dec BTC/USD fresh selloff targets $5,500 – Confluence Detector

Posted at 08:57h in Bitcoin News by

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  • Fresh crypto selloff adds sorry to an already gloomy market, making pre-Christmas recovery a pipe dream.
  • Bitcoin is facing stacks of resistances towards $7,000, hence the path of least resistance remains downwards.

The current crypto carnage comes as a surprise to many across the landscape. Instead of the end of the year rally as high has been the norm for the past few years, but cryptocurrencies have been caught in the middle of losses that threaten to/or have already erased year-long gains.

The cryptocurrency market update earlier today took into account the $10 billion wiped off the market in less than 24 hours. The losses are an extension of the selloff that took place on Monday. Prior to the losses, cryptocurrencies experienced widespread consolidation over the weekend.

Read more: Bitcoin Price Analysis: BTC/USD downtrend unstoppable towards $5,500-top Analyst predicts

Bitcoin confluence levels

As for Bitcoin, the price is dancing at $6,631. Subtle…

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