Markets Back Under Pressure as Bitcoin Gets Rejected From Key Trendline

2019-12-3 17:11

The cryptocurrency market came back under downside pressure on Monday as Bitcoin and other major cryptocurrencies gave back a significant portion of their late-November trading gains.

Bitcoin is trading below the $7,300 level, following a major technical rejection from trendline resistance on the daily time frame, located around the $7,865 level.

Bitcoin SV and Stellar are the worst performing altcoins in the top 10 as both suffer intraday losses of three and four percent respectively.

The total cryptocurrency market capitalization is $191 billion, a loss of nearly 7.5 percent since last Friday. 

Bitcoin

Bitcoin incurred heavy technical selling after moving to the top of a large falling wedge pattern on the daily time frame. BTC/USD bulls moved the price to test the top of falling wedge, after sellers failed to break under the wedge last Monday.

The number one cryptocurrency did, however, manage to close the weekly price above its 52-week moving average. A bullish reversal candle was formed in the process.

Going forward, daily price closes above the $7,300 level should be considered bullish and may encourage buyers to test towards the top of falling wedge once again.

BTC/USD Daily Chart by TradingView Total Market Capitalization

The daily time frame chart of the total market capitalization is almost a perfect copy of BTC/USD, showing that the price is similarly trapped inside a large falling wedge.

The inability to break from the wedge has placed the market back under pressure. At this stage, a recovery back above $200 billion is needed to improve sentiment.

The $182 and $170 billion are the foremost areas of technical support this week, while the $205 and $208 billion level offer key technical resistance.

Crypto Total Market Cap Daily Chart by TradingView Overall Sentiment

According to the latest data from The TIE, sentiment toward the entire cryptocurrency market remains neutral, at 53 percent.

Bitcoin Cash has the weakest sentiment among the top 10 cryptocurrencies at 40.50 percent. Meanwhile, EOS has the strongest at 64 percent.

The post Markets Back Under Pressure as Bitcoin Gets Rejected From Key Trendline appeared first on Crypto Briefing.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 60143.3 (-0.93%)
Объем 24H $37.961b
Изменеия 24h: 2.71 %, 7d: -1.16 %
Cегодня L: $60083.53 - H: $60766.28
Капитализация $1205.924b Rank 1
Цена в час новости $ 7381.26 (714.81%)

bitcoin back level major trendline pressure trading

Источник: cryptobriefing.com

bitcoin back → Результатов: 126


Bitcoin Stuck In Bear Mode For 83 Days: Trend Pulse Confirms Structural Weakness

Bitcoin continues to struggle as it attempts to reclaim the $90,000 level, with traders facing a market defined by hesitation rather than conviction. After yesterday’s bearish breakdown below $90K, price action has slipped back into indecisive territory, raising fresh questions about whether this pullback is a temporary shakeout or the start of a deeper corrective phase.

2026-1-24 06:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

GoMining mines first Stratum V2 Bitcoin block using DMND pool

GoMining mines first Stratum V2 Bitcoin block with DMND pool. Stratum V2 enables miners to choose block transactions directly. New system shifts power from pools to miners in Bitcoin mining. GoMining has mined the first known Bitcoin block produced using the Stratum V2 protocol with the DMND Bitcoin mining pool.

Real Finance puts $20,000 up for grabs in new $ASSET rewards campaign

Real Finance launches REAL Competition for the $ASSET ecosystem. Users can earn points by trading, staking and holding $ASSET. A $3400 raffle pool gives more community members a chance to win. Real Finance has launched the REAL Competition, a community rewards campaign aimed at increasing participation across the $ASSET ecosystem.

Travala launches first agentic AI travel protocol for autonomous bookings

Travala launches AI travel protocol for autonomous bookings. Platform supports 2.2 million + hotels with on-chain USDC payments. Developers earn 10% cbBTC rebates for AI-driven bookings. Travala has launched what it describes as the world’s first end-to-end agentic AI travel protocol, allowing autonomous artificial intelligence agents to search, book, and pay for travel services with […] The post Travala launches first agentic AI travel protocol for autonomous bookings appeared first on CoinJournal.

ZIGChain integrates Ondo tokenized stocks, ETFs to expand onchain access

ZIGChain adds Ondo tokenized stocks and ETFs to its ecosystem. Partnership expands onchain access to US financial markets. Rollout begins in phases across selected ZIGChain applications. ZIGChain announced on Monday that it is integrating with Ondo Finance to bring tokenized US stocks and exchange-traded funds (ETFs) to users across its blockchain ecosystem, expanding access to […] The post ZIGChain integrates Ondo tokenized stocks, ETFs to expand onchain access appeared first on CoinJournal.