• Bitcoin is at the moment buying and selling at $17,486.50 after a 1.10% drop in worth.
• BTC worth is buying and selling between the 9-day EMA and the 20-day EMA traces.
• The value of BTC now rests on the each day help degree at $16,952.00.

It’s up and down within the crypto market at present, however the crypto market chief, Bitcoin (BTC), is among the cryptocurrencies within the crimson for the day to this point. In line with the crypto market monitoring web site CoinMarketCap, BTC is at the moment buying and selling at $17,486.50 after a 1.10% drop in worth during the last 24 hours. The crypto king is, nonetheless, nonetheless within the inexperienced by about 1.60% during the last seven days.

BTC weakened towards its greatest competitor, Ethereum (ETH), by 0.19% since yesterday, and its 24-hour buying and selling quantity can be within the crimson to now stand at $19,957,256,967 after a greater than 23% drop. By way of market cap, BTC now stands at $336,372,899,472.

The each day chart for BTC/USDT reveals that BTC’s worth is buying and selling between the 9-day EMA and the 20-day EMA traces. The market chief’s worth additionally depraved above and beneath each traces in at present’s buying and selling session to this point.

There may be heavy bearish sentiment current on BTC’s chart because the final two days have seen extra promote quantity than purchase quantity on Bitcoin’s chart. The each day RSI indicator additionally helps the bearish view on BTC’s chart.

Presently, the each day RSI line is buying and selling beneath the each day RSI SMA line. The RSI line additionally sloped negatively in direction of oversold territory.

The newest damaging motion in BTC’s worth has made the coin relaxation on the each day help degree at $16,952.00. If BTC fails to carry this degree, then the following goal that it’s going to drop down can be on the $16,539.00 help degree.

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