During today’s session, the Bitcoin price reported a slight fall of just over 1%, keeping the price in the same lateralization as we saw yesterday. During the afternoon hours of Wednesday, Bitcoin tried to climb above $3,500, however, it quickly returned to the lateralization area.
The volume of purchase is very low and even sale, this has allowed the price to not find a way, although this type of lateralization promotes fear in the market as it speaks of a new fall.
- The price stays lateralized
- Fear of new fall avoids shopping entries
- Bitcoin at its lowest price during 2018
There is no doubt that, 2018 has been a complicated year for BTC after trading above $ 19000 the price fell back to $ 3190 at its lowest point, which has caused a fall of more than 90% in the value of BTC
It must be borne in mind that, although BTC has had a greater adoption during 2018, the price has been affected by the low interest shown by investors before this asset. According to Google Trends, Bitcoin searches during 2018 have fallen more than 92%, which explains the lack of incoming capital to the exchanges and the movement in the market.
At this time both the EMA 9/26 moving averages as well as the RSI give us a panorama of uncertainty taking the price of a lateralization area which has high probabilities of a new correction below $ 3000 and even the $ 1500 of support is a possibility.
- Moving Averages EMA 9/26
- RSI (relative strength index) 40%
- $ 3000 support
- $ 5000 resistance
This analysis should be used as an information medium; it does not pretend to be an investment advice. Investing in cryptocurrencies is highly risky; avoid investing the money that you cannot afford to lose.