Technical indicators are reaching a stage where another important step in Crypto markets is imminent. After several weeks of consolidation, this is usually the case that leaves us with a big question; Up or down?
Bitcoin still In Sleep
Recently there has been very little in the BTC markets. Digital assets decreased 6% on Thursday to $7,100 due to a slowdown of a full week.
Since then, it has been moving at a very slow pace at $7,250 where Bitcoin currently trades on its lower three-week side channel.
As an important move, Mr. Bollinger has pointed to himself, indicating a great deal of compression in most cryptocurrency cards.
“Most of the Bollinger cryptocurrency bands are at or near the compression level. Time to pay attention. “
The feeling is still very bearish and there are more calls to the landfill than a bomb in the whistle.
In terms of domain, Bitcoin has dropped to 68% according to Tradingview.com. The Altcoins are flat, so it is difficult to see what has increased in terms of market share.
Other BTC metrics are also bearish, such as the Fear and Greed Index, which today fell into ‘extreme fear’ with a rating of 22.
With several endurance tests over the past week and the failure to break them, the Bears may be on the right track again this time. The six-month downtrend has not broken, so it is plausible that BTC will spend the holiday season in the $ 6k price range.
Elsewhere on Crypto Markets
When we enter another weekend, there is little to report for most alternative currencies. The total capitalization of the encryption market is still below $200 billion and the market has been reduced by 4% since this time last week.
Volume and volatility are decreasing for most crypto assets, Ethereum is no exception. Currently trading at around $145, ETH has erased all profits this year, as it returns to January prices. The increase in DeFi markets, the possibility of betting and the start of Serenity 2020 is a better year for Ethereum.
Most altcoins are quoted at yesterday’s level, with only Tron entering the day with a 5% bomb. His brother token, BTT, is also adding 14% today and Zcash and BAT are also green.