Bitcoin (BTC) fell back to support levels of between $ 7,250 and $ 7,300 on December 1, following a sudden increase. Daily overview of the crypto market. Source: Coin360 The future gap will occur if lower levels persist
Coin360 data showed that the largest cryptocurrency lost nearly 30% of its weekly profits, from its peak of $ 7,790 to about $ 7,300.
The subpage is equivalent to a 24% loss of 6% for Bitcoin, which shows signs that the support force would be tested at $ 7,000.
Previously, the pair BTC / USD had reached a minimum of 6,500 USD over several months before bouncing back to nearly 1,300 USD in a few days.
At the time of writing this article, the pair is exchanged at exactly the same level as last Sunday. Bitcoin price chart over 7 days. Source: Coin360
Analysts are now looking for factors that can influence upward or downward momentum in the near term. In particular, Michaël van de Poppe has noted a probable "gap" in the markets for bitcoin futures.
As reported Cointelegraph, the price of bitcoin tends to "indicate" its price level between the end of a futures trading session and the beginning of another.
After the fall of Sunday, a new gap should be dug, said van de Poppe, while the CMEsK exchangeable Friday at $ 7 805 was exchanged. This would bring the BTC / USD to 8,000 USD. The gap of $ 7,200 was also filled quickly last week.
"Positive about this case, there is another CME gap at the top," commented van de Poppe in a new Update Twitter ,
Then he added The potential of Bitcoin is probably between $ 6,900 and $ 8,000:
"I would like to know if we can get more than $ 7,400, if that's the case, maybe we could reach $ 8,000." If it's not the case, I'm aiming for $ 6,000. $ 900 to $ 7,000. "
The analysis of futures contracts yielded mixed results this week after CME's monthly contracts were settled on Friday. The data suggests that Bitcoin would likely increase after payments. Until now, however, an opposite course has marked the markets.
However, the sentiment of futures operators remains broadly optimistic. For example, last week, Bakkt recorded a record daily volume for its own monthly contracts. Altcoins give ground to BTC
The markets of Altcoin recorded a disappointing period of 24 hours meanwhile. Many important cryptocurrencies have lost about 5%.
Ether (ETH), the largest market capitalization in the world, fell 4.2% to settle at $ 147, while the others underperformed. Litecoin (LTC), for example, lost 6.1%. Ether price chart 7 days. Source: Coin360
The total market capitalization of cryptocurrencies was $ 198.7 billion and Bitcoin's share was 66.6%. Follow the markets of crypto in real time here Related...