In accordance with the candlestick chart connected to the BTC/USD pair on tradingview [based on data obtained from the Bitstamp Exchange], sellers are back at the helm for now. The daily RSI [for 14 periods] dropped to reach 49.35. This signifies Bitcoin’s decline in the neutral zone and indicates that the #1 digital asset may enter oversold territory by the following week.
The MACD line ventured south of the signal line today, which resulted in the histogram switching sides and changing color [from green to red]. Except in the case of 6th November, the peaks tied to the Awesome Oscillator have possessed the brown shade for the past one-and-a-half weeks. The initial level of resistance at $9952.48 is yet to be tested, and support can be found adjacent to the $8671.6 which might be broken shortly.
It looks like the #Bitcoin pump is finally over. Get ready for the dump!
— Peter Schiff (@PeterSchiff) November 8, 2019
Peter is a prominent gold enthusiast. He believes that this precious metal shall never go out of style. Mr. Schiff looks at Bitcoin as an enormous bubble [similar to the DotCom Bubble which popped around 2 decades ago]. He was recently interviewed by Anthony Pompliano [for OffTheChain].
Bitcoin is the top-ranked cryptocurrency in the market which was established over a decade ago. The trading volume recorded stands at approximately $24.034 billion, whereas the supply has 18,036,862 BTC coins involved as part of circulation. The total market cap of Bitcoin amounts to $160.028 billion as of this instant. The price dipped at a rate of 3.87% in the course of the past 24-hours; this, in turn, contributed to BTC falling all the way down towards the $8872.3 mark where it currently rests.
#bitcoin Weekly chart looks awful?
Yeah… $3,000 candle a couple weeks ago on mega volume with a slow bleed down to support… Super awful…
Not to mention alt coins are holding up rather well…
Go on waiting for your $6k.
— NebraskanGooner📈 (@nebraskangooner) November 9, 2019