RATE Group | BTC/USD recovery hampered by stacks of resistance – Confluence Detector
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BTC/USD recovery hampered by stacks of resistance – Confluence Detector

21 Nov BTC/USD recovery hampered by stacks of resistance – Confluence Detector

Posted at 07:03h in Bitcoin News by

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  • Bitcoin dominance drops as the price weakens four months in a row.
  • Bitcoin bulls are in for a battle as resistance builds towards $9,000.

Bitcoin dominance in the cryptocurrency has significantly thinned over the last four months. Then granddaddy of cryptocurrencies commanded over 70% of the crypto market between June and July. However, the growing altcoin dominance coupled with the weakening Bitcoin price has seen tumble to 65.84%.

The data on CoinMarketCap shows Bitcoin having shed 2.2% of its value in the last 24 hours. Bitcoin’s market features a $19 billion trading volume in the same period which is a minor drop from the $20 billion recorded yesterday.

The cryptocurrency live rates on the day show Bitcoin with a relative change of +10. The price has made a subtle upward correction of $0.14 to trade at $$8,095. The prevailing trend is bullish amid shrinking volatility.

Bitcoin confluence levels

Bitcoin buyers are faced with an immediate resistance at…

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