Bitcoin: the price today holds $10,000
Bitcoin: the price today holds $10,000

Bitcoin: the price today holds $10,000

By Federico Izzi - 27 Aug 2019

Chevron down

Today bitcoin, despite the difficulties, manages to stay above the psychological price level of 10,000 dollars. 

bitcoin price

However, when looking at the ranking, it is necessary to reach 28th position in order to find the first real green sign, that of V Systems (VSYS), which rises by 6%. Only MaidSafeCoin (MAID), which rises by more than 20%, outperforms V Systems. 

On the opposite side, today too we find ABBC Coin (ABBC) as the worst of the first 100 with a drop of more than 12%. Among the big ones, it is worth noting the descent of Binance Coin (BNB) that today falls close to 25 dollars, with a drop of 5%. 

With today’s downward movement, Binance Coin is dangerously close to its mid-July lows in the $24 area. 

Ethereum Classic (ETC), after having touched $7.5 again yesterday, today experiences a bearish movement and the price retraces close to $7.10 with a daily drop of 2.5%.

But it’s nothing to worry about: the ETC trend remains bullish. Ethereum Classic, along with Icon (ICX), is among the best performances on a weekly basis with a rise of over 20% from levels touched on Tuesday, August 20th.

The price retreat is reflected in the market cap which is back below $265 billion. Volumes also decline on a daily basis, trading 10% less than yesterday. The dominance of bitcoin does not change, remaining at 69% of the market share; Ethereum (7.6%) and Ripple (4.3%) remain the same as well.

bitcoin price today
Bitcoin chart by Tradingview

Today’s price of bitcoin (BTC)

Today the price of bitcoin continues to fluctuate within the triangle, repeatedly testing the threshold of the lower neckline passing through the $10,100 area. 

The continuous testing of the current levels in the coming days is a signal that begins to increase concerns about a return to a lower price. The lack of new purchases could attract sales again. 

The collapse of last week’s lows – area 9800 – would lead to the next area test of $9200-9000.

Conversely, sustained support would show an accumulation of these levels and a push that would be confirmed upwards with prices above the $10,800-11,000 area, last week’s resistance levels.

bitcoin price today
Ethereum chart by Tradingview

Price of Ethereum (ETH)

Today ethereum continues to fluctuate dangerously just above the dynamic bullish trendline that supports the trend of last January, in contact with the lows of early February and recent mid-August. 

For Ethereum it is necessary to record as soon as possible upward movements accompanied by purchase volumes with pushes above the psychological threshold of 200 dollars.

In the absence of this target, the lateral trend is becoming more and more dangerous without any sudden movements in the area of 185 dollars, which has been going on for 10 days.

Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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