Technical analysis Bitcoin BTC/USD - 16.04.2018

The market capitalization of cryptocurrencies is currently over 322 billion USD. Bitcoin domination exceeds slightly above 42%. In the last 24 hours, almost all of the top 10 in the cryptocurrency ranking has been declining. Only cardano has recorded an increase of almost 9%.

From a technical point of view, we are still in a downward trend that has been going on since the beginning of the year. On April 12th the price in half an hour increased by 1 000 dollars. This impulse took the course above the resistance of 7 900 USD. At the moment you can see how slowly we are going to the falls again. If this would be the beginning of a return to growth, then a subsequent demand response should be sought at local support of 7 200 USD. Alternatively, if this support does not stop the falls, the next target will be 5 800 USD.