RATE Group | The Crypto Daily – Movers and Shakers -16/05/20
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The Crypto Daily – Movers and Shakers -16/05/20

16 May The Crypto Daily – Movers and Shakers -16/05/20

Posted at 12:35h in Bitcoin News by

Bitcoin slid by 4.90% on Friday. Reversing a 5.14% rally from Thursday, Bitcoin ended the day at $9,311.2.

A mixed start to the day saw Bitcoin slide from an intraday high $9,848.9 to an early morning low $9,260.0.

Bitcoin fell through the first major support level at $9,391.9 before recovering to $9,800 levels.

The recovery was brief, however. Through the 2nd half of the day, Bitcoin slid to a late intraday low $9,130.2.

Bitcoin fell back through the first major support level to wrap up the day in the deep red.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Friday.

Binance Coin (-4.33%), Bitcoin Cash SV (-4.39%), Ethereum (-4.28%) and Monero’s XMR (-4.15%) led the way down.

Bitcoin Cash ABC (-2.91%), Litecoin…

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