Bitcoin Just Hit a Crucial Trendline; Analysts Expect Imminent Fireworks

George 980x535

Bitcoin and the rest of the crypto market has witnessed some bear-favoring volatility throughout the past few hours This came about following a day of relative stability yesterday, and it appears that Ethereum’s potent decline is creating headwinds for the rest of the market BTC is now trending down near a crucial support level that coincides with a key trendline Analysts believe that a continued bout of trading above this level could be all that is needed for the crypto to post a strong rebound Bitcoin and the aggregated crypto market are currently experiencing some mixed trading. While BTC remains stable within the upper-$11,000 region, most major altcoins are currently plunging lower as Ethereum retests its key $400 support level. ETH’s rather unexpected drop overnight appears to be the primary factor behind this latest decline, and a sustained dip below $400 might be enough to drag Bitcoin lower as well.…

Read the original article here