Bitcoin dominance drops as the price weakens four months in a row. Bitcoin bulls are in for a battle as resistance builds towards $9,000. Bitcoin dominance in the cryptocurrency has significantly thinned over the last four months. Then granddaddy of cryptocurrencies commanded over 70% of the crypto market between June and July. However, the growing altcoin dominance coupled with the weakening Bitcoin price has seen tumble to 65.84%. The data on CoinMarketCap shows Bitcoin having shed 2.2% of its value in the last 24 hours. Bitcoin’s market features a $19 billion trading volume in the same period which is a minor drop from the $20 billion recorded yesterday. The cryptocurrency live rates on the day show Bitcoin with a relative change of +10. The price has made a subtle upward correction of $0.14 to trade at $$8,095. The prevailing trend is bullish amid shrinking volatility. Bitcoin confluence levels Bitcoin buyers are faced with an immediate resistance at $8,136. Meeting here are various technical indicators including the 50 SMA 1-hour, the SMA 200 15-minutes, the SMA 10 1-hour, the previous high 15-mins, the Bollinger Band 15-mins upper curve and the BB 1-hour upper curve to mention a few. Consequently, a breakout above the first resistance must be strong enough to deal with the sellers’ congestion at $8,557. The region is home to the 61.8% one-month, the SA ten one-day and the Fibo 23.6% one-week. Trading action above his zone will remain relatively smooth towards $9,000 accept for some small bumps at $8,725 and $8,893. Unfortunately, the confluence tool displays a relatively week support for Bitcoin. The first medium-strong support is highlighted at $8,051 and is host to the BB one-day lower, previous low one-day and BB one-hour lower. The next target is $7,967 followed by $7,546 and $7,378. More confluence levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Malaysia: inflation remained steady in October – UOB FX Street 3 years Bitcoin dominance drops as the price weakens four months in a row. Bitcoin bulls are in for a battle as resistance builds towards $9,000. Bitcoin dominance in the cryptocurrency has significantly thinned over the last four months. Then granddaddy of cryptocurrencies commanded over 70% of the crypto market between June and July. However, the growing altcoin dominance coupled with the weakening Bitcoin price has seen tumble to 65.84%. The data on CoinMarketCap shows Bitcoin having shed 2.2% of its value in the last 24 hours. Bitcoin's market features a $19 billion trading volume in the same period which is a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
