The market situation maintains its tendency, while currencies continue to decline slowly. Today we will consider the position of Bitcoin, in view of its key position, as well as the top five currencies according to their market capitalization.
As we can see, the price of bitcoin against the US dollar consolidated at the level of 3200. From the point of view of technical analysis, the market is still under strong pressure, and the price continues to move along the bearish trend line (on the red chart) in the middle of the downward trend channel . And while the schedule does not give any preconditions to the fact that the trend will change in the near future. The possibility of small and short-term trips to the top, but only under the influence of speculative operations of large players, remains.
Predicting the rate of the main cryptocurrency for the week, we can expect the penetration of the support line (3200 dollars for Bitcoin) and the continuation of the decline to the price of 3000.
In turn, the market capitalization continues to decline and already amounts to $ 104 billion. There is no substantial news support for hoping for a partial restoration of positions at the moment the market does not have.
This is how the top 5 cryptocurrency stays on market capitalization. It is worth noting that Efirium returned to the top 3 again.