Crypto Market Wrap: Consolidation Could Crack on Bitcoin’s Next Move

Crypto markets still range bound; Bitcoin, BCH and BSV moving marginally, Litecoin, BNB and ADA fall back. 
Market Wrap
It has been another day of consolidation for crypto markets as they end the week flat. Very little movement outside of the channel has occurred this week as total market capitalization has been range bound around the $250 billion level. Things have picked up marginally for some crypto assets but others have lost ground.
Bitcoin hit an intraday high of just above $8,300 a few hours ago but pulled back to its current price of $8,230. The move is bullish but not strong enough to break the resistance at this level. Volume has picked up again and is approaching $20 billion which is a sign that further gains could be on the cards.
Ethereum is still flat and holding around $255. There has been very little momentum in the ETH camp and it is down 1.5 percent on the day. Volume is declining as the head and shoulders formation reaches its closure and a drop could be imminent. Current support for ETH lies at $230.
The top ten is showing more red than green during Asian trading this morning. The only two aside from Bitcoin that are up on the day are Bitcoin Cash with 2.5 percent and Bitcoin SV with 3.5 percent. The rest are in the red with Litecoin and Binance Coin dropping the most at over 3 percent each.
Top twenty movements are also minimal with a couple of percent being dropped by Cardano and Tron. Gaining a similar amount are Cosmos and NEO reaching $6.25 and $13.13 respectively. The rest are plus or minus a percent or so as the crypto consolidation continues.
FOMO: Chainlink Spikes on Google Hints
It comes as no surprise that today’s top one hundred top performer is Chainlink. The 43 percent spike came after Google Cloud dropped hints that it would be working with Ethereum based LINK. The Reddit feed went wild and the altcoin spiked in volume from $24 million to $390 million as the fomo frenzy gathered pace. Binance is getting the majority of trade at the moment with 67 percent.
Energi is a newcomer to the top one hundred with a 30 percent pump as NRG gets listed on KuCoin. Bytom has also had a productive 24 hours with 14 percent added. As predicted the big dump is Aurora as it peaks and troughs on a daily basis, today dumping 50 percent for no obvious reason.
Total market cap 24 hours. Coinmarketcap.com
Total crypto market capitalization is currently marginally higher than this time yesterday at $262 billion. Markets are still range bound however and are unlikely to see any bigger moves until Bitcoin breaks out. The push back above $8,200, albeit briefly, is a bullish sign though so the weekend in crypto land could get interesting.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The post Crypto Market Wrap: Consolidation Could Crack on Bitcoin’s Next Move appeared first on NewsBTC.

Analyst: Friday the 13th Daily Close Could Set Future Bitcoin Price Trend
Friday September 13, 2019

Each and every daily close on Bitcoin price charts is important, as the price level where the candle closes and even the shape of the candle can help crypto analysts predict future movements and...

Bitcoin Price (BTC) Rebounding But Can Bulls Overcome $10,500?
Friday September 13, 2019

Bitcoin price remained well supported above the main $10,000 level against the US Dollar. The price is trading nicely above the $10,250 resistance, but it might struggle near $10,500. Yesterday’s highlighted key declining channel...

The post Bitcoin Price (BTC) Rebounding But Can Bulls Overcome $10,500? appeared first on 12bitplay - Bitcoin Play.

The post Analyst: Friday the 13th Daily Close Could Set Future Bitcoin Price Trend appeared first on 12bitplay - Bitcoin Play.

Gloomy Future For Libra Crypto as Central Banks Pose Tough Questions
Monday September 16, 2019

Not a week has gone by since Facebook announced its lofty crypto ambitions that it hasn’t been torn apart for one reason or other. Now it is the chance for the central banks of...

The post Gloomy Future For Libra Crypto as Central Banks Pose Tough Questions appeared first on 12bitplay - Bitcoin Play.

You may also like...