Bitcoin & Ripple Technical Analysis - Charts Point to Further Losses

Bills Could Be Paid In XRP By 5 Million New Users - Crypto Daily™

Last year, Bitcoin's market share peaked at around 86%, but at the beginning of 2018, this was down to around 36%.

Prices began dropping yesterday after the SEC extended the Cboe exchange-traded fund decision. EOS price a week ago was $7.30 but it kept declining and now trades at $6.08. At the time of writing, ETH/USD traded 1.05 percent up at $409.20, hitting day's low of 402.11.

Bitcoin price declined sharply from the $7,150 swing high after the US SEC chose to postpone one of the ETF approval decisions. More importantly, the price failed to test the 50% Fib retracement level of the last decline from the $7,167 high to $6,139 low. The next two significant drops in value occurred after the SEC revealed delaying the ETF decision leading to today's BTC/USD low of $6,391 per coin.

OmiseGO (OMG) traded 3.1% higher against the dollar and now trades at $5.47 or 0.00077135 BTC. According to Satoshi Pulse statistics, the exchanges swapping the most bitcoin core this Wednesday include Bitflyer FX, Binance, Bitfinex, Okex, and Coinbene.

BCH/USD: Bitcoin Cash, too attempted a recovery above the $700 handle, in a mood of general optimism in today's crypto trading, following the footprints of its wider peers in terms of price action.

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In addition, Ali Hassan, one of three cofounders of U.S. asset manager Crescent Crypto, said he believes that the U.S. Securities and Exchange Commission (SEC) could approve a Bitcoin (BTC) Exchange-traded fund (ETF) within the next 18 months. Coinmarketcap reports that the platform has grown by 16% in 24 hour period.

The latest mini-rally in Bitcoin has yet again been thwarted by sellers, with the price nearing its recent low as confidence in the cryptocurrency marker remains at a low ebb. BCH is seeing a daily loss of around 14.2 percent and is the fourth highest market valuation among every coin in existence.

Bitcoin's continued price fall may not be over as the original cryptocurrency hovers just below the $7,000 mark. Tether is followed by BTC (26%), United States dollars (10.9%), QC (2.2%), and ETH (2.1%). Looking ahead at order books, BCH bulls need to surpass mega-resistance from now until $640 and after that, it may be easier to move northbound.

From the 4-hour chart, the BTC price made a partial bullish movement before its eventual bearish breakout.

At the moment, the price is testing an important support at $6,400, which was a pivot level and a support earlier. On the downside, a break below $0.3198 may well clear the path for more losses towards the $0.3000 and $0.2800 support levels.

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