Dipping Bitcoin clawing for support above $40,000

THE price of Bitcoin is down by 3% over 24 hours as the market leader trades in the $40,500 to $41,000 range after finding support around $40,000 earlier this morning. 

Ethereum is in the same boat, shedding 4% off its price overnight. The original smart contracts crypto is trading for around $2,400. 

It’s a similar story across the majority of the crypto market, with green price indicators few and far between. One of these is Litecoin, which is in the positive by 1.76%, and Chainlink, which has returned 0.34% overnight. 

Indicators continue to signal a cooling in the markets following the rally of the last month. 

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In the Markets

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Expected days to BTC Halving

99

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Total crypto market cap

$1.62 trillion (-1.32%)

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What Bitcoin did yesterday

 Daily high $41,878 |  Daily low $41,504

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Bitcoin market capitalisation

$804.18 billion (-1.24%)

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Bitcoin volume

$13.92 billion (+32.55%)

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Ethereum staking entry queue

10 hours 48 minutes

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SP500

+1.23%

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Fear and Greed Index

56 (Neutral) 

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Bitcoin’s market dominance

51.18

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Bitcoin Simple Moving Average (50) 

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Value 34066.27 Sell (TradingView)

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Relative Strength Index (RSI)

41.28

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Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price, while 30 or below indicates an oversold or undervalued condition.

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Post Script…

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Cautionary Notes

It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

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