Investing

Bitcoin Bulls have taken the king coin to retest the $10,000 overhead resistance since May 30. Buyers pushed price to the $9,800 resistance zone and were repelled. BTC retraced to $9.400 and resumed consolidation above the current support.

Since May 24, Bitcoin dropped to $8,669 and resumed fluctuation between $8,600 and $9,000. For the past four days neither the bulls nor the bears have taken advantage of the recent breakdown.

Yesterday, BTC made another surprise drop to $8,700 and the support appears to be holding in the meantime. The gradual downward move has been systematic.

In the last 48 hours, Ethereum dropped to $201 after the bulls were rejected at the $212 resistance level. For the past week, Ethereum‘s bulls have attempted to break the $215 resistance and push the price above $227 resistance.

Bitcoin remains in the uptrend zone despite its recent fall. In the last 48 hours, it dropped again to $8,200 low and moved up.

Finally, the $200 support has been broken after a general breakdown of the cryptocurrency market. Ether was previously in a downward move when ETH was overbought at $227.

With the spread of smartphone-based apps and commission-free independent trading platforms, investing becomes accessible as never before. Now, in the times of Covid-19, many traders and brokers have a rare opportunity to play on market setbacks and turn them into a positive return.

Yesterday, Litecoin rebounded above the $44 low to reach a high of $47. Regrettably, the rebound is insufficient to break through the resistances of $47 and $50.

Bitcoin's recent uptrend was hampered due to stiff resistance at the $9,200 price level. In its first bullish run, the market reached a high of $9,400.