Bitcoin Price Analysis: BTC Price Testing Last Line of Defense Before $6,000

Sentimental Analysis for Bitcoin Ethereum Ripple EOS Stellar

Taking a gander at the chart, Bitcoin price is obviously exchanging a bearish zone underneath $7,260.

The crypto market has lost as much as $51 billion in capitalization in the last 7 days, which is an 18% decline.

Bitcoin core (BTC) prices at the moment are around $6481 per BTC and the cryptocurrency's market valuation today is $111B. BTC even briefly fell to the $6,100 price level but quickly moved up slightly above the $6,300 price mark. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

Bitcoin Cash gained 3.3% on Thursday, partially reversing Wednesday's 10.27 tumble, to end the day at $608.6.

VeChain (VET) traded 3.3% lower against the dollar and now trades at $0.0129 or 0.00000192 BTC.

BTC price is under a lot of pressure below $7,000 and it is testing the last important support before $6,000. The bearish pressure is likely to continue to the support level. Always do your own research. However, RSI levels (24.5) show extremely oversold conditions and there could be a small uptick if prices sink lower.

It opened the doors for more declines and BTC price traded below the $7,000 support and settled below the 100-day simple moving average.

Over to Ripple or XRP, Ripple has had a fairly good Thursday as it has managed to get a whole 0.35% more today than previously and has built itself up from this week's trading price of $0.320. Meanwhile, the near-term support is seen at $400.00 and resistance at $420.00.

At the time of writing, Litecoin was down 0.59% to $62.71, with Thursday's late pullback weighing in the early hours of this morning, Litecoin falling to a morning low $62.5, the moves through the early hours leaving the major support and resistance levels untested. However, recoveries are likely to face many challenges near the $6,800 and $7,000 levels. On the downside, a break below $0.3198 may well clear the path for more losses towards the $0.3000 and $0.2800 support levels. More importantly, there is a new contracting triangle forming with resistance near $608 on the hourly chart of the BCH/USD pair. It nearly tested the $5.00 support and formed a low at $5.33. Another month to month low was framed at $6,881 and the price is at present uniting. A break below $5.00 may perhaps spark heavy losses in EOS in the near term.



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