Technical analysis

Crucial week for Bitcoin, trying to hold $6500

Julien Moretto – 18 Dec 2019

Another difficult week for the cryptocurrecy market. Within a strong correction that has been going on for 6 months now, Bitcoin is loosing 8% over the last seven days, falling back to the €6,000 ($6,600) level. This level, already tested on November 25, seems to be about to break this time, with the risk of going at lower levels around €5,500 ($6,000). The main altcoins such as Ethereum and Ripple (XRP) also have significant losses, exceeding 15% over the past week. Only Tezos (XTZ) and Cosmos (ATOM) are performing in the top 50 of the market. In this bear market, what are the price levels or technical signals that could cause a bounce and then, possibly, a trend reversal ? Here is our market analysis.

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