The crypto-currency market remains under pressure
The crypto-currency market remains under pressure, despite some recovery during the European session. The main catalyst for reducing the price of major crypto-currencies was a message from Alphabet, the owner of Google, about the ban on advertising crypto-currency since June 1, 2018. It is worth recalling that earlier this decision was made by Facebook.
Bitcoin price fell to around 7 557.00 today, thereby confirming my yesterday’s forecast of a further decrease in the price of crypto currency in case of breakdown of the level of 8 200.00. More: “The crypto-currency market under pressure: interest in crypto-currencies is declining“.
Technical analysis: At the moment Bitcoin’s price is trying to gain a foothold above $ 8,200.00. In the event that, based on the results of today’s trading, Bitcoin’s price will be able to gain a foothold above $ 8,200.00, you should expect a possible recovery in the price of the crypto currency $ 9,200.00, $ 9,800.00. Otherwise, I expect a further decrease in the price of crypto-currencies to $ 7 300.00, $ 6 500.00.
Fig. BTC / USD graph. The current price is $ 8 165.450.
Alexander Sivtsov