Btc price declined after it failed to move above the $9,500 resistance.
There is a significant bearish trend line forming with resistance at $8,900 on the 4-hours chart of the btc/usd pair.
It may rise in the short term, but it is likely to face resistances near $8,900 and $9,000.
price is facing tough barriers around $8,900-$9,000. It must stay above $8,200 and $8,000 to avoid any further losses in the near term.
And about other alt coins, most of them are just following the movement of btc. Except some. The view is same as most of the time. Still, as from me, they should prove their own strenght. I am little disappointed too about steem.
It's managed to stay above $8,200 for now. Let's see if it can hold that. I also see $7,800 as strong horizontal support if $8,200 gives way.
I am hoping, it will test th $8000 and its near marks, but will be stay above it in the end.
Hope, this one will help you little to understand easily.
That trendline was briefly broken twice, but seems to still be exerting its pressure. It needs to be broken definitively. With Monday's strong rally coming at the open of weekly futures trading, I expect BTC to finish the week higher, and that would be a help in the right direction.
Agree on this one with you.