The market is waiting for a new wave of growth
Yesterday was a bit tense for Bitcoin (BTC). On the one hand, sales have indicated the prospect of a further decline. On the other hand, the price reversal in the American session did not form a downward trend. It is still clear that the price chart is holding below the key resistance at around $3,740.
As for other cryptocurrencies, they also entrenched in the “red zone.” The leader of the decline was the EOS coin, it showed a change of -2.24% and consolidated at around $2.78. Ethereum (ETH) was slightly better traded – it stopped at around $122 with a daily change of -0.4%.
Despite the weakness of trading, the capitalization is held at the level of $120 billion. This, in turn, is a positive signal, since market participants are not going to “leave.”
The UK keeps up with the times
The news background for Wednesday was not able to greatly affect the course of trading. But there is still good news that can strengthen the position of blockchain technology in the future. It became known that the Institute of Decentralized Economics has opened in the UK.
The Bitcoin price chart is not going to go out of the range of $3,740 – $3,575. There is still a strong level at $3,740. It is important to note that the breakdown of key resistance can create a new wave of growth, including other cryptocurrencies.
The cryptocurrency market is in a state of uncertainty. Only the exit of Bitcoin from the important level of resistance will allow reviving market participants.