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08:11 08.11.2019
2019-11-08
Nikolay Volganov (Neironix)
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Bitcoin Price Analysis on November 8: on Guard at the Support Level of $ 9,000

For the past day, the price of bitcoin continued to move in flat, having lost 0,95% ​​in price. Powerful news that could provoke a sharp change in price did not arrive on the market, as a result of which we observe a moderate fluctuation of the rate from side to side. Currently, the price of bitcoin is $ 9,211.

Bitcoin value again went to the lower border of the formed price corridor and broke the triangle down, after which we observed a rebound from the local support level. At the moment, the price has rushed to test the lower edge of the triangle, after which, if buyers fail to gain a foothold over it, we will see a continued decline to the previously indicated targets in the Fibonacci area of ​​0.618 ($ 8,500 - $ 8,700).

To resume the upward movement, you need to see a good impulse up from the local support level in the area of ​​$ 9,000, and until we see it, the further direction remains a priority.

Over the weekend, market capitalization fell by $ 3 billion to $ 249 billion at the time of writing. Trading volume fell another $ 3 billion and amounts to $ 77 billion on Friday morning. But the dominance of bitcoin has slightly restored its position, adding 0.3% - 67%.

For the past 24 hours, DxChain (DX) continues to be the leader in growth — it is a network that consists of a large database and a computer-based training network, functioning thanks to its computationally-oriented blockchain and a specially made token (DX) based on the original protocol. During the day, the growth of DX was 21,70%.

DxChain - USD Historical Price Chart

Decred (DCR) is the biggest loser in the past 24 hours. After yesterday's rapid growth, the DCR token was unable to maintain its position, unlike DxChain (DX), and lost 10,92% in a day.

Decred - USD Historical Price Chart

From the latest significant news: Binance continues an expansion on its trading platform after adding support for the ruble. Representatives of the exchange announced the opening of an office in Ukraine along with the support for the hryvnia on their site. And yesterday, the exchange added support for the fiat euro, which opens up the possibility for investors to store money not in stablecoins backed by fiat currency, but by direct fiat holding.

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Comments
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Aw, thanks a lot for the report, it was a really nice one!!
Cool! the price went according to your scenario, and right now the buyers are fighting with sellers at the level of $ 9,000, it is not yet clear who will win, but $ 9,000 has already broken, I think all the same your scenario will be realized and we will soon go for $ 8,700.
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