Bitcoin tends to set the tone for the overall cryptocurrency market dynamic & this was the case today with Bitcoin trading very tightly just below strong resistance & the overall cryptocurrency market cap not moving much. The market cap managed to go above 400 Billion USD at one stage but dipped back below currently at 399 Billion USD & bitcoin dominance at 37.9%.
Top News:
-Santander has plans to extend service built using Ripple’s blockchain to even non-Santander customers https://ambcrypto.com/with-ripple-xrp-santander-plans-to-expand-service-to-non-santander-customers/
-Draper keeps big predictions for Bitcoin, claims bigger than both internet & Renaissance https://www.cnbc.com/2018/04/23/early-tech-investor-says-bitcoin-will-be-bigger-than-the-internet.html
-Using Paypal for international payments, well now you will $5.99 extra in fees https://www.msn.com/en-au/money/company-news/paypal-adds-dollar599-fee-to-international-transfers/ar-AAwaryi?ocid=spartandhp
Bitcoin ($8916.16, 0.26%)
Trading in a really tight range just below 9000 level for last few hours. Heavy resistance at 9000 level. Bearish divergence on the RSI on the four hour chart. Volume larger on red candles than green candles. Could be a drop to accumulate more buyers & then a retest of 9000 level. Overall sentiment remains positive currently so I can’t see a drop not bringing in buyers to the market. Short term bearish, long term bullish on this one.
Disclaimer: This is not financial advice, this is for entertainment purposes only. I am Irish. Think of me as you would the Irish stereotype.