Bitcoins are left without support investors and falls
For the week from 24 September to 1 October on the stock exchange Bitfinex bitcoin exchange rate fell by 1.62% to $6601. For cryptocurrencies week was relatively quiet. The market remained without drivers, because SEC has extended the time and did not make the decision for ETF. Regulator it was postponed indefinitely for a more detailed study of derivatives on bitcoin.
Short-term activity was observed in altonah. A positive trend for the entire market created a Cash Bitcoin, Ripple and LTC. After descending correction these coins rose in price to dollar by 25%.
Ripple coin has risen on news that Coinbase Custody considering new assets for inclusion in the listing, among whom was Ripple.
Bitcoin Cash last week also supported two news. The first of them is the Gemini exchange has received approval from new York regulators for the listing BCH. The second good news was the fact that Bitmain has applied for the IPO. After Cash has risen Bitcoin Litecoin. It was followed by the growth rate of bitcoin.
The bitcoin exchange rate increased to $6826. Without new drivers the buyers failed to pass the resistance zone at $6900. The price stabilized at $6600. For a four-day sideways trend in the pair BTC/USD technical indicators began to signal its weakness. A similar situation is now observed in altonah: ETH/USD, LTC/USD, BCH/USD, XRP/USD.
When you consider the time factor, the cycles of the stock market is in a transition period with the “bear” trend bullish. For rally the price of bitcoin need altcoins are synchronized with each other (stood on the same level about 2-3 days). In this case, the daily indicators begin to signal about their purchases. That’s when you can expect the breakout level of $6900 and strengthening to $8600 for bitcoin.