Bearish sentiments push bitcoin (BTC) below $8,000. Altcoins follow the suit nursing losses on a day-on-day basis. The cryptocurrency market is in the tailspin. Bitcoin’s collapse below critical $8,000 triggered a host os sell-orders and affected the momentum of all major altcoins as well. At the time of writing, BTC/USD is changing hands at 47,970, down over 2% since the beginning of the day. Looking technically, a sustainable move below $8,000 bodes ill for the short-term bitcoin bulls and increases the chances for an extended sell0off with the initial target at $7,800. This barrier stopped the bears twice since the end of September, thus it may serve as a good starting point for an upside correction. Once it is out of the way, $7,450 ( the lower line of the Bollinger Band on a weekly chart) will come into focus. ETH/USD is trading at $174.50, down over 3% since the beginning of Wednesday; XRP/USD has lost 1.6% to trade at $0.2830 by press time. BTC/USD, the daily 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 EUR/USD technical analysis: Euro holding on above the 1.1020 level in the New York session FX Street 4 years Bearish sentiments push bitcoin (BTC) below $8,000. Altcoins follow the suit nursing losses on a day-on-day basis. The cryptocurrency market is in the tailspin. Bitcoin's collapse below critical $8,000 triggered a host os sell-orders and affected the momentum of all major altcoins as well. At the time of writing, BTC/USD is changing hands at 47,970, down over 2% since the beginning of the day. Looking technically, a sustainable move below $8,000 bodes ill for the short-term bitcoin bulls and increases the chances for an extended sell0off with the initial target at $7,800. This barrier stopped the bears twice since… 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.
