The cryptonock is at a crossroads against the transmission of power in the United States, announcements of new incentives and stock growth. Bitcoin continues to decline after a failure attempt to test $ 40K at the end of last week. Over the past day, Bitcoin loses about 4% and changes hands for $ 33k. There are no panic on the market, but it can begin after a decrease in bitcoine under $ 32k. The depth of sale will also depend on the rate of falling prices. If Bitcoin will show a slow slip, market participants will still put the likelihood of the return of bulls. If the price reduction turns out to be sharp and breaks $ 30K, we can quite see the trend turn and a sharp increase in the pressure of bears.
The index of greed and fear continues to decline after the loss of Bitcoin's loss of its growth impulse. In the last day, he fell another 3 point to the value of "75", having lost the prefix "Extreme" and switched to "greed" mode. The RSI index on day charts shows a confident decline aside from overboughtness, and is already at the middle of its range.
Bitcoin received its height impetus from large capital, however, there is a possibility that Smart Mani can use Bitcoin and several largest cryptocurrency as a means for temporary "parking", as well as a method for diversifying portfolios. The fact that the transfer of power takes place in the USA, confidence has appeared in the launch of the next portion of incentives and the promotions continue to grow, it can indirectly indicate the probability of sales by large investors of their cryptoaculations.
Many funds are not obliged to report on such operations, while others will do it with a certain temporary lag. Thirds can sell their assets on over-the-counter sites, so as not to swing the market directly. However, coins can change hands, and technical indicators already indicate the cooling of the previously overheated market. The main question is whether there is a sufficient number of bulls on the market, which consider the price levels of Bitcoin about $ 30K successful to open the positions "with discount", since it is this strength that it is now necessary to instill in the participants of the cryptoms hope to return growth.
All altcoins duplicate the dynamics of Bitcoin, and, unlike the beginning of 2018, when the capital headed around the reference cryptocurrency, capital headed towards altcoins, now retail investors will be much more difficult to convince the fact that alternative cryptocurrencies are able to act for a long time in the separation from the dynamics of the first cryptocurrency.
Team of analysts FXPRO.
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