The bitcoin (BTC) price continues in a lateral phase, with a slight decrease compared to the early hours of today, November 9th.
Despite the prevalence of red signs for most cryptocurrencies, the medium-term technical picture remains frozen with prices that, after trying to make a move, return to the levels of the beginning of the week.
The moment of relative calm that feeds both opposing fronts continues between those who expect further falls and those who see this period of laterality as an opportunity for accumulation before the next rise in conjunction with a possible “Christmas rally”.
The total capitalization returns to 210 billion dollars with the total number of cryptocurrencies listed on Coinmarketcap, close to exceeding 2100.
Bitcoin Price (BTC)
Bitcoin’s current price is $6378 dollars, down from the early hours of today, when it was $6424.
After missing the confirmation over 6600 dollars, even the 6500 area seems not to have the right appeal to attract purchases again.
Slowly, prices are slipping to 6400, making life more and more complicated for traders. The indications of monitoring the 6750 area upwards remain valid, while the 6200 support must not be broken.
Prices are testing the 210 dollars area, yesterday’s bottom of the red candle. A return to monitor the supports is necessary after failing the extension beyond 220 dollars. In particular, it is necessary to keep the 200 dollars threshold, or even better, the 190 dollars. This last level is also important from a monthly point of view.
Despite having lost more than 10% in value in the last 48 hours, prices manage to maintain a $0.50 price. Holding this level could give indications of consolidation to prepare for a further rise. On the contrary, a return below half a dollar will be added to the umpteenth failure of a new rise to project itself towards the $1 level.