For several days now, bitcoin has been struggling near the price of 10 thousand dollars, and I think very soon we will find out how this struggle will end. The daily chart of this cryptocurrency will help us in this.
As you can see from the chart, the closest point of “resistance” is at the price of $10,000. Today, bitcoin opened the day again at a price below $10,000. If today-tomorrow there is a breakdown and fixation under the “support” level of $9k, we may see its value continue to decline again.
However, as is often the case with cryptocurrencies, bitcoin can give surprises. So for bitcoin speculation, I would recommend waiting to see how the $9,000 to $10,000 struggle ends. Whether it will be the beginning of a decline or not.
Despite some uncertainty with bitcoin, its movements up and down are well affected by changes in the rate of cheaper instruments, altcoins. It is these “coins” that now allow traders to earn during the lively and sometimes unpredictable movement of the main cryptocurrency.
Trade according to your system, but don’t forget about possible sharp changes in the value of any of your cryptocurrencies.