Bitcoin falls to $19,125, following mixed behavior today as it ranges between $19,125 and $19,222.
Despite being in the red so far in the current trading session, Bitcoin peaked above its 5 day Simple Moving Average around $19,242 — typically an early indicator of a new bullish trend beginning to emerge. Bitcoin's lower Bollinger Band® is at $18,657, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. In contrast, Bitcoin could begin to recover as it approaches significant support, now 47 cents away from $19,125. Dipping below could be an indication that further losses are ahead.
Technical analysis shows that Bitcoin (currently on a downtrend) might reverse course and start going up in the short term.
In the meantime, negative performances are also seen in other markets, Ripple is down $0.011 from the beginning of the session and now trades around $0.454. Cardano is trading around $0.348 (down $0.005). After ending today's session at $0.06, Dogecoin lost $0.001 and is trading around $0.059.
Registering some good gains for about a month now. Approximately 11 months ago, Bitcoin reached a significant high of $67,600 but has struggled to hold onto its gains and declined 71.57% since then.