It was a great week for Cryptocurrencies, but the market is crashing
It’s another week, that has brought a lot of great news, South Korea and fully legal acceptation of cryptocurrencies , HTC announce Router where you can run your own Bitcoin Full Node , Cryptocurrencies helps Latin America
and also the French commerce court has classified Bitcoin as currency.
However, the market continues to lose and all cryptocurrencies are losing value.
We can only guess whether the coronavirus actually caused the collapse of trading markets, or there is another factor.
Let’s at least look at Bitcoin and the technical view of its market.
- The bullish support at $8600 8500 8450 did not hold
- Breaking an important levels
- Bearish wait for main buys around $8000
- Propably bounce zone shold be $8200-8400
- For Bulls is important pushing price back up above $8500 by the weekly close
- For Bears hold price under $8500