The price of Bitcoin decreases again
Trading

The price of Bitcoin decreases again

By Federico Izzi - 4 Dec 2019

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Today the Bitcoin price decreases, going below 7,200 dollars again and testing the psychological threshold of 7,000 dollars.

Ethereum and Ripple are also returning to very critical thresholds that it will be important not to break, otherwise, the return of downward speculation is expected. 

Source: COIN360.com

The return below the short-term crucial levels is a cause for concern in the coming days. The bullish effect that developed with last week’s bounce has already vanished. 

bitcoin decreases

Among the first 30 cryptocurrencies, the only positive sign is Tezos (XTZ) which rises 3%. Tezos distinguishes itself in the last 10 days with a trend that unlike all the others remains set in a bullish trend. 

The market cap returns to 195 billion dollars, levels of late November. Volumes continue to worry, with daily trading standing at around 45 billion dollars, the lowest levels of the last month.

Bitcoin chart by Tradingview

Bitcoin (BTC) decreases

Bitcoin returns close to 7,100 dollars, a step away from the psychological threshold of 7,000 dollars. For BTC it is important not to go below the technical level of $6,800. In order to have a clear bullish signal, Bitcoin has to push above 7,500 dollars.

Ethereum chart by Tradingview

Ethereum (ETH)

The situation of Ethereum is much more critical, with prices returning close to $145. The failure of reaching $155 is a sign of weakness for ETH, which continues to give no indication of a reversal in the medium to long term.

XRP chart by Tradingview

Ripple (XRP)

For Ripple, the situation is even worse than Ethereum, with a fall that brings prices back below the threshold of 22 cents. XRP continues to show clear signs of weakness despite announcements from the Ripple Foundation.

 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it 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 Diretta.tv 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. Since May 2017 he is officially a Bigbit technical analyst. 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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