Bitcoin is inactive

The most popular crypto currency in the world is inactive during the European session. This dynamics is related to the general sentiment of the crypto-currency market, amid some recovery of bitcoin positions, after a sharp decline in the price at the beginning of the week. The collapse of bitcoin was triggered by the cancellation of the hardfork, as a result of which the holders of the bitcoins did not receive free coins and decided to concentrate on the undervalued altcoins. See Bitcoin has fallen in price by 30%!

Technical analysis: After restoring positions, the price of bitcoin returned to the previously broken up channel on H4, which is a signal to restore the upward movement of the price of the crypto currency. At the moment, the main resistance is $ 6900.00. In case of break through this level the price will be restored to the level of $ 7400.00.

Figure 1. BTC/USD chart, current price – $ 6926.00.

Alexander Sivtsov