Sellers take a step back after causing havoc in the cryptocurrency market for two days. Bitcoin potential for recovery remains high as a falling wedge pattern inches closer to a breakout. The cryptocurrency market is neither bearish or bullish during the European trading hours on Wednesday. The low trading activity is a break from two days of a continued selloff, especially for the major cryptocurrencies. Meanwhile, the market has lost $5 billion in the last 24 hours from $227 billion to $222 billion. Bitcoin market update Bitcoin has been lethargic in its trading on Wednesday. From the opening price of $8,122, the price tested the hurdle at $8,150. However, the prevailing selling pressure has seen BTC adjust 0.7% lower on the day to trade at $8,066. Looking at the 4-hour chart, Bitcoin has sustained a downtrend in a falling wedge pattern. As long as the pattern support remains intact, Bitcoin has the potential to correct higher in the coming sessions. However, as far as the MACD is concerned, bearish dominance could last longer. To completely avert declines below $8,000, Bitcoin must rise above $8,250 in the near-term. BTC/USD 4-hour chart 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 Blockchain Capital, Coinbase and others invested $25.5 million in Libra Association member FX Street 3 years Sellers take a step back after causing havoc in the cryptocurrency market for two days. Bitcoin potential for recovery remains high as a falling wedge pattern inches closer to a breakout. The cryptocurrency market is neither bearish or bullish during the European trading hours on Wednesday. The low trading activity is a break from two days of a continued selloff, especially for the major cryptocurrencies. Meanwhile, the market has lost $5 billion in the last 24 hours from $227 billion to $222 billion. Bitcoin market update Bitcoin has been lethargic in its trading on Wednesday. From the opening price of… 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.
