Crypto market overview 22.8.|Huge triangle begins with Bitcoin’s weekend slump

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Welcome to our crypto market overview 22.8.

Bitcoin begins the weekend with a slump. Investors expect a reflection on the support line of trinagle. We see support at $ 11,400, will the end of the weekend be strong? Where is the nearest resistance that prevents Bitcoin from moving forward and where is the support?

overview of terms

Yesterday, we reached a marketcap worth of $ 365 billion. This week we are recording a low of USD 342 billion and a high of USD 386 billion. At Bitcoin, we have a low at $ 11,150 over the same period. High on Bitcoin at $ 12,400. We are currently worth $ 11,880 for one BTC coin. Bitcoin dominance is declining at 59.3%.

Last crypto market overview here.

Overview of coins from top capitalization yesterday:

Bitcoin (BTC) $11 716,15 USD (-1,39%)

The best growth yesterday was:

0x (ZRX) $0,768802 USD (26,55%)

OMG Network (OMG) $6,35 USD (18,66%)

Augur (REP) $23,99 USD (16,96%)

Ampleforth (AMPL) $0,731566 USD (17,43%)

ICON (ICX) $0,589976 USD (14,75%)

The biggest drop was recorded:

Swipe (SXP) $2,74 USD (-19,76%)

JUST (JST) $0,049848 USD (-18,17%)

Reserve Rights (RSR) $0,020539 USD (-14,51%)

All data is provided from coinmarketcap.com

World markets overview yeterday:

SP500: 0,08 %. NASDAQ: 0,78 %. GOLD: 0,86 %. DOW J.: 0,2 %

[BTC / USD] In 2020 to present value: 64%

On Friday night, Bitcoin was at 11,680 and we don’t see any major movement. Bitcoin fell slightly by 0.5% in the evening – but within 24 hours, it attributes a total of 1.75% drop. The weekend started with a smaller drop on Bitcoin, it looks worse on altcoins, where the drops are in the tens of percent. Bitcoin is, of course, close to the $ 12,000 resistance. We are currently looking for support for $ 11,400. As we can see from the chart, we are still holding a triangle formation in which investors are moving after a failed attempt to break the $ 12,400 resistance (bull trap).

Crypto market overview 22.8.|Huge triangle begins with Bitcoin's weekend slump

Most investors are bullish on Bitcoin and expect growth to continue. We are expecting the same, but we probably have to wait and watch the movement to the side for a while. In recent months, Bitcoin has grown rapidly and this brings a lot of caution from whales, which can even try bigger shorts.

Thank you for your time and reading crypto market overview 22.8.

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Margharet Tess

Editor, Developer at Cryptheory Labs

I have been active in the cryptocurrency world for over 6 years, during which I have written countless articles about this sector. What fascinates me most about cryptocurrencies is their technological aspect and the problems they aim to solve. In the past three years, I have ventured into app development and am currently working on a larger project called P2E Buzzer. Stay tuned for the surprise. 🙂 My previous experiences: Business2Community.com, TradingPlatforms.com

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