{"id":35068,"date":"2019-11-11T11:43:54","date_gmt":"2019-11-11T16:43:54","guid":{"rendered":"https:\/\/www.opensource.im\/uncategorized\/cryptocurrency-market-update-bitcoin-pendulum-action-targets-both-8000-and-10000-fxstreet.php"},"modified":"2019-11-11T11:43:54","modified_gmt":"2019-11-11T16:43:54","slug":"cryptocurrency-market-update-bitcoin-pendulum-action-targets-both-8000-and-10000-fxstreet","status":"publish","type":"post","link":"https:\/\/euvolution.com\/open-source-convergence\/bitcoin\/cryptocurrency-market-update-bitcoin-pendulum-action-targets-both-8000-and-10000-fxstreet.php","title":{"rendered":"Cryptocurrency market update: Bitcoin pendulum action targets both $8,000 and $10,000 – FXStreet"},"content":{"rendered":"

The crypto bears are in full swing in action after a weekend of consolidative movements. The slow weekend trading calmed the atmosphere within the crypto space after a devastating Friday price fall. The cryptos leading in declines on Monday include Bitcoin Gold (BTG) at 3.15%, Litecoin (LTC) at 3.15% and Bitcoin (BTC) at 3.10%.<\/p>\n

In spite of the correction, the global crypto market is holding the market a bit higher at $240 billion compared to $239 billion on Sunday. The trading volume has also thinned to $74 billion from $80 billion in the same period.<\/p>\n

As mentioned, Bitcoin is trading more than 3% lower on the day. From an intraday high of $9,068 the price is teetering at $8,720. The downtrend market with high volatility means that the movementsouth has just started. Note that Bitcoin dived to levels under $8,700 on Friday before covering to $9,200. The slide under $9,000 could refresh $8,400 or even $8,000, in turn, creating fresh demand which could eventually send Bitcoin above $10,000.<\/p>\n

Read more:Bitcoin price prediction: BTC\/USD shifts focus to $8,400 Confluence Levels<\/p>\n<\/p>\n

The picture for Ethereum and Ripple's price performance is not different from that of Bitcoin. Ethereum is down 1.69% on the day while XRP is trading 2% lower. Particularly, Ripple is strongly bearish while its volatility is quite high. Last week XRP test $0.27 but recovered to $0.28. The prevailing bearish pressure is also focusing on $0.27 short term support.<\/p>\n

On the other hand, Ethereum is trading $186 after touching $190.28 on the upside. After failing to sustain gains above $190, the bulls left the gate wide open for the bears. For now, the bulls have a task to defend $180 support which will help to launch the next attack on $200.<\/p>\n

Read more:Ripple price update: Reignited bearish momentum targets $0.27<\/p>\n<\/p>\n<\/p>\n

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Cryptocurrency market update: Bitcoin pendulum action targets both $8,000 and $10,000 - FXStreet<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The crypto bears are in full swing in action after a weekend of consolidative movements. The slow weekend trading calmed the atmosphere within the crypto space after a devastating Friday price fall. The cryptos leading in declines on Monday include Bitcoin Gold (BTG) at 3.15%, Litecoin (LTC) at 3.15% and Bitcoin (BTC) at 3.10%. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24697],"tags":[],"class_list":["post-35068","post","type-post","status-publish","format-standard","hentry","category-bitcoin"],"_links":{"self":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/35068"}],"collection":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/comments?post=35068"}],"version-history":[{"count":0,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/35068\/revisions"}],"wp:attachment":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/media?parent=35068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/categories?post=35068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/tags?post=35068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}