Bitcoin Facing an Important Week, and LTC, DASH and Monero Look Weak

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Bitcoin is facing an important week ahead after cannot rally over the weekend and setting up a bearish formation on the weekly chart.


BTC Cost Index Bitcoin is dealing with an important week ahead after stopping working to rally over the weekend and establishing a bearish formation on the weekly chart. Last week’s pause in Bitcoin was mostly down to profit-taking on the awareness that an Exchange Traded Fund (ETF) or regulation was not imminent. The G20 group of nations has pushed back their own decision on the matter out to October and it’s possible the marketplace could drift lower till we see a driver. Bitcoin’s monthly close was favorable however we are now trading near that $7,000 support level once again so this is a key week for Bitcoin. We would have to return to the $8,000 mark today to stimulate an additional rally in BTC and any weakness will infect the bigger market.LTC
LTC Rate Index Litecoin is an example of a weak rate setup after we saw a heavy close into the previous lows of July last week. If we do see more weak point in Bitcoin over the next couple of weeks then it’s likely that LTC will also suffer and the assistance levels near $50.00 would be the next target. Litecoin has seen some interesting developments, such as the purchase of a German bank. Nevertheless, we are most likely not near seeing the fruits of that investment in the near future and the absence of positive news flow might see us dip lower again.DASH

DASH Price Index The cost of DASH looks comparable to Litecoin last week with a failure to hold onto current gains and push lower recently. We can see a boost in selling volume in the recentlies and DASH may search for lows underneath the $200 level. I noted previously that the financial investment giant, Fidelity, had taken a stake in Neptune Dash, so we can keep an eye out for developments around this news in the future. Up until we see anything there, DASH is most likely to be pulled lower by general market weak point till the guideline photo becomes clearer.XMR

XMR Rate Index In the rate of Monero we see a familiar photo on the weekly chart with Monero cannot keep gains near the $150 level and pushing into the June lows last week. As we are trading somewhat higher than $100 that would be the first destination for more lows and it’s possible that could be an assistance level just below. The volume picture in Monero likewise reveals weak point in current weeks.Monero has come under attack in recent days after a bug was found in the system that enabled hacking and stealth mining of coins through a user’s computer system, with over 200,00 routers targeted in the most recent attack. This obviously isn’t really good promotion for Monero and the general coin market. The cryptocurrency exchange, Livecoin, suffered a loss of $1.8 million from the hacking and this remains in a coin that is supposed to represent privacy and security. These advancements highlight the requirement for greater security tools and defense going forward. The news might possibly dent the demand for Monero and lead to the test of lower levels that I have mentioned.Disclaimer: information consisted of herein is provided without considering your individual situations, for that reason need to

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Bitcoin Dealing With a Crucial Week, and LTC, DASH and Monero Look Weak appeared first on WideBitcoin.