Bitcoin and Ethereum, the world’s biggest cryptocurrencies by market cap, saw a mixed day on Monday as price chopped between a narrow range.
Bitcoin fails to break $51k
Trading data shows BTC traded in the $49,000-$51,000 range this morning, seeing a daily low of $49,316 in the afternoon and a daily high of $51,300 in the evening. The asset plunged in the US hours in line with tech stocks in the country—a correlation that many have pointed out in the past few months.
Bitcoin’s price charts show resistance in the $51,000-$51,200 level, one the asset broke earlier this year while setting its all-time high of over $53,000.
Bitcoin is in an uptrend…for now. Image: TradingView
As the above image shows, Bitcoin trades above its 34-period moving average, a tool used by traders to determine the market trend, indicating higher prices in the short term. However, on-chain sentiment data from IntoTheBlock flash a “bearish,” suggesting a decline in prices. The two indicators combined
Źródło: https://cryptoslate.com/markets-wrap-ethereum-breaks-1700-bitcoin-sees-51000-resistance/
