Tom Lee: Bitcoin Is The Best House in a Tough Market

Tom Lee: Bitcoin Is The Best House in a Tough Market

Taking a gander at the chart, Bitcoin price is obviously exchanging a bearish zone underneath $7,260.

In the past couple of weeks, bitcoin's market share has soared to its highest level all year to around 48 percent, Lee said.

Bitcoin is now struggling to keep its head above the $7,000 watermark, following a bad weekend which saw the world's number one cryptocurrency, in terms of market cap, shed about 10 billion in value in just a couple of days.

Bitcoin's market capitalization stood at Dollars 123.8 billion at a price of USD 6,622 per BTC. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Investors seeking to trade First Bitcoin should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX.

VeChain (VET) traded up 4.8% against the dollar and now trades at $0.0140 or 0.00000198 BTC.

Manchester United, Tottenham and Chelsea All Ready For Big Signings
Martial in the last 20 minutes could have given us the second goal but I couldn't make that change. Jerome Boateng was another option but Bayern Munich have not been keen to sanction a loan move.

Bitcoin price tuned bearish with a nearby underneath $7,260 against the US Dollar.

At the moment, the price is testing an important support at $6,400, which was a pivot level and a support earlier. Always do your own research.

Despite the fact that the SEC's decision was exclusively for Bitcoin's ETFs, it is the smaller-cap altcoins that have been hardest hit, reporting losses much worse than the world's number one cryptocurrency. If the price breaks down, it could resume its downside move below the $570 level. It prompted a sharp downward move and the price broke the $0.3600 and $0.3400 supports. It seems like there is a short-term breakout pattern forming with support at $0.3250 and resistance near $0.3500.

Over to Ripple or XRP, Ripple has had a fairly good Thursday as it has managed to get a whole 0.35% more today than previously and has built itself up from this week's trading price of $0.320.

However, there are many hurdles on the upside for ripple buyers near the $0.3700 level, 21 SMA, $0.3750, and a bearish trend line with resistance at $0.4050. EOS/USD settled below the $7.50 support and dropped significantly. For instance, BTC/USD spot prices have dipped three times to the $5,600-5,800 region but have not dropped less than that yet. It nearly tested the $5.00 support and formed a low at $5.33. Above this, the price may possibly attempt a recovery towards the $6.25 and $6.50 resistance levels. A break below $5.00 may perhaps spark heavy losses in EOS in the near term.

Related Articles