Bitcoin and other major altcoins have been on a consistent free fall and even hit multi-yearly lows. BTC even touched $17,000 mark this month, however, the king coin has now reclaimed its $20,000. Over the last week, the coin lost 22% of its value but on the daily chart it gained close to 7%. Technical outlook for the coin has picked up bullishness but still reflects signs of weakness. Buyers also have returned to the market, but if buying strength drops again BTC might find support close to $17,000. It is still difficult to say if the coin has bottomed out. Many altcoins also jumped on their chart as Bitcoin showed signs of relief. This also included Ethereum that pushed up by 9% over the last 24 hours. The global cryptocurrency market cap today was at $950 Billion with an increase of 6.1% change in the last 24 hours. Bitcoin Price Analysis: One Day Chart BTC touched its 18-month low as the coin dipped near the $18,000 mark yesterday. Pressure from sellers have constantly pushed the price of the further below. Despite a jump back to the support level of $20,000, sellers are still in control of the market. Overhead resistance for the call stood at $22,000 and a fall from the $20,000 will cause BTC to trade near the $17,000 to $16,000 mark. BTC’s trading volume also fell on the chart. The bar was seen in red, this was an indication that Bitcoin was still in control of the bears. Technical Analysis On the smaller time fram...
