Bitcoin is less than $ 106,000 weighing under resistance, HFT, SOLX, MAV Driving Altcoins
Bitcoin continued its weakness on Tuesday, as it was the world’s leading cryptocurrency through the market value that weighs under the resistance area of $ 108,000.
The broader Cryptomarket fell 1.59 % to $ 3.27 trillion on Tuesday.
The Coin Market Cap Crypto Fear and Greed is still in a neutral area at 50 of 52 yesterday, indicating signs of fatigue in the encryption market.
What is with bitcoin
Bitcoin fell by 1.33 % to 106,177.46 dollars on Tuesday. The US financial markets also decreased on Tuesday as a draft new spending law for US President Donald Trump, a beautiful beautiful draft law approved by the US Senate by a little.
The markets were careful on the $ 3.3 trillion tax bill, which are preparing to add to the escalating financial deficit in the United States.
Bitcoin has recently united less than a large resistance level near 108,350 dollars.
This price point is in line with the upper limits of the current trading range.
Although moves are higher, the price shadow is specified at this level. Technical indicators indicate a potential divergence of landing, which may indicate a decrease in the upward momentum of the last gathering.
The pressure on this level must be increased, the price can return to the lower border of the trading range, about $ 100,960.
Prices and resistance work
Bitcoin’s inability to maintain a step above 108,350 dollars to form the highest possible level.
This development is in line with the declining price structure that has been observed over the past few weeks.
The level of 108,350 dollars has shown itself as a noticeable barrier, as the rejection of multiple prices confirms that it was a dominant offer. Without a decisive penetration above this level, the price is likely to continue trading within its specified range.
Technical indicators and size directions
A declining difference has been observed, characterized by a slight increase in the price while the RSI indicator (RSI) shows twice the momentum.
This style is often an early indication of a possible exhaustion in the assembly, especially when the key resistance level occurs.
Such a difference indicates that the last upward upward movement may be driven by short -term factors than to constantly buy.
Moreover, the trading volume showed a steady decrease during this period of monotheism.
In the context of the technical resistance in force and the developing deviation, this decreasing size can enhance a declining look.
In order for a large upward outbreak, usually there is a need to increase the interview in size to confirm the transformation of the demand.
Without this confirmation, the price may be more likely to decline and test subsequent support levels, including control point and possibly low value space at $ 100,960.
Current data points indicate that Bitcoin faces resistance at about 107,565 dollars, as it is in line with a pivotal point, and also at the level of 23.6 % Vibonacci about $ 107664.
The emergence of the declining difference is more supported by the RSI index (RSI) at 54.4, which, although it is neutral, shows a declining direction from 56.1 yesterday.
At the same time, the graph for the contrast to the moving average rapprochement (MACD), at +269, indicates that the upper momentum may be slowed despite the positive survival.
The belief of the strategy in Bitcoin is being tested?
Another event that shook some confidence to Bitcoin holders is that Microstrategy, one of the most powerful supporters of Bitcoin, has transferred $ 796 million from BTC to three new portfolios.
The Blockchain Lookonchain analysis platform said 7382 BTC was transferred on Sunday, but no official interpretation was presented.
The question that arises in the minds of BTC investors is whether Michael Silor, who was a strong defender of BTC, is now starting to sell his sites.
Microstrategy is still the largest company holder in Bitcoin with 592,345 BTC holdings, equivalent to about $ 64.28 billion.
altcoins
Altcoin’s market value decreased to $ 1.29 trillion from $ 1.32 trillion a day before.
The Altcoin season index in CoinmarketCAP decreased from 21 to 20 to 20, which strongly confirms the strength of the Bitcoin season.
ETHEREUM decreased by 2.20 % to $ 2,430.75 at the time of writing this report.
Solaxy (SOLX), Hashflow (HFT), and MAV protocol (MAV) were among the best winners.
Solx gathered by 77 %, HFT fell 40 % while MAV gained 14 %.
Solaxy, who was inserted at UISWAP on June 24, was a strong start, but then stumbled. Layer 2 showed a strong movement on the Solana series on Tuesday.
Hashflow has gained because of the Solana Integration and Binance menu, which has strengthened its arrival and credibility.
Post Bitcoin drops below 106 thousand dollars weighs under the resistance, HFT, Solx, MAV Leads Altcoins first appeared on Invezz
