Bitcoin Analyst: This is very bad news for BTC

Bitcoin (BTC) is up 4% since 00:00. The current price at the time of writing is $21,394 on crypto exchange Coinbase. The euro price of bitcoin is €21,566 on the Dutch exchange bitvavo. Trading volume fell 12% over the same time frame. Over the past seven days, bitcoin has fallen by 10.3% in value. In the past 24 hours, the price has remained virtually the same. The total market value of Bitcoin at the time of writing is $410.5 billion. Compared to the total crypto market cap, the bitcoin dominance amounts to 40.69%, practically the same level as 24 hours ago.

Bitcoin news from yesterday

Crossing cryptocurrency indicator is bad news

Titan of Crypto, a Twitter analyst, shared an analysis on August 23 using the tenkan kijun cross indicator. This indicator shows a bearish signal where the analyst sees that the two lines intersect. In the past, this was a clear indicator that the price would still fall sharply. The previous times this happened, the price corrected by at least 50% each time. Should this happen again, the price would fall towards $11,000.

Premium crypto analysis of the day: The Sandbox (SAND)

Unfortunately, the analysts in the Discord Community from Crypto Insiders not very positive about The Sandbox (SAND). They indicate that it seems that SAND is currently a Elliott Wave downward impulsive wave is forming. This could be both a 12345 and an ABC pattern. If we see the first, the price could drop a lot further.

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image 1: The above SAND analysis was shared on August 18 in our Discord area for members.

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Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences and are for educational purposes only.

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