Market Review. Results of the Day. Wrong Reverse Turn. 03/06/2018
March 7, 2018
Today cryptocurrency has fallen by an average of 6%. Biggest losers are IOTA, NEO and Bitcoin.
Bitcoin has turned back without reaching the level of $12,000. It was the third unsuccessful attempt of the cryptocurrency to break out from this level in the last two months. After another failure of bulls, the probability of a new falling trend has largely increased. If the price breaks down the support level of $9,000, then the further drop may happen.
Not the brightest situation has emerged for IOTA. A continuation pattern called flag has formed on the chart. If the price breaks down the support level of $1.3-1.5, then the fall may accelerate with the target level of $0.5.
Ripple today lost everything it gained yesterday. Breakout of $1 opens a new support level of $0.7. If the price breaks it down, then the new target level is $0.3.