BITCOIN ANALYSIS TODAY (November 08)
On Coindesk, at 3pm on November 8, Bitcoin price traded at $19650, down 3.7%.
Statistical data over the past 24 hours shows that the world's most popular and valuable virtual currency fluctuates between $19,354 - $21,053.
According to CoinMarketCap, Bitcoin trading volume is around $53.8 billion, market capitalization at $395 billion.
The price of Bitcoin plummeted, causing many virtual currencies to also decrease, of which Ethereum price decreased by 0.5%, Binance Coin price decreased by 1.02%, Ripple price decreased by 1.2%, Dogecoin price decreased by 3%, Cardano decreased by 0.2 %, Solana down 9.6%...
Total market capitalization today fell 0.85% to $1.022 billion.
About technical analysis
Observed at H4, it can be seen that BTC's current bearish push has as strong momentum as the previous bullish push. Both have steep slopes and include many large H4 bars, in the direction of the price.
It is likely that BTC will continue to find the 18500 price zone, which is the last support for the price in the short term.
The fact that the current downtrend has reached the foot of the previous uptrend shows that the supply has absorbed all the demand. This signal is biased towards the downside. At the same time, the price cluster above yesterday's breakout area is a confirmed bearish breakout - false break.
Statistical data over the past 24 hours shows that the world's most popular and valuable virtual currency fluctuates between $19,354 - $21,053.
According to CoinMarketCap, Bitcoin trading volume is around $53.8 billion, market capitalization at $395 billion.
The price of Bitcoin plummeted, causing many virtual currencies to also decrease, of which Ethereum price decreased by 0.5%, Binance Coin price decreased by 1.02%, Ripple price decreased by 1.2%, Dogecoin price decreased by 3%, Cardano decreased by 0.2 %, Solana down 9.6%...
Total market capitalization today fell 0.85% to $1.022 billion.
About technical analysis
Observed at H4, it can be seen that BTC's current bearish push has as strong momentum as the previous bullish push. Both have steep slopes and include many large H4 bars, in the direction of the price.
It is likely that BTC will continue to find the 18500 price zone, which is the last support for the price in the short term.
The fact that the current downtrend has reached the foot of the previous uptrend shows that the supply has absorbed all the demand. This signal is biased towards the downside. At the same time, the price cluster above yesterday's breakout area is a confirmed bearish breakout - false break.