Digital asset markets have headed south again as predicted, with US$10 billion [AU$15.8 billion] exiting the space over the past 24 hours.
Market sentiment has been bearish all week, and the slide below $190 billion in total market capitalization has been largely expected.
Bitcoin has failed to revisit resistance above $7,000 and has fallen back to the $6,600 support zone, which has dragged the entire market down with it.
Analysts are now eyeing levels as the halving approaches, and most are of the opinion that BTC needs to hold above $6,000 for any longer-term trend hopes.
$BTC | Halving Game plan.
Close shorts around Monthly Open($6410)
Long above Monthly lows ($6150)
Monthly probably closes a doji (indecision) which is common during uncertain events.
Pump in May with a Morning Star Pattern
Invalidation: <$6000 pic.twitter.com/ezVZHCXJa8
— Anondran (@AnondranCrypto) April 15, 2020
Some are targeting the large wall of support at $6,400 as a buy-in zone, which would cause a bounce here.
Here's a cleaner chart
— Satoshi Flipper (@SatoshiFlipper) April 15, 2020
XRP is about to plunge below $0.18, while BCH and BSV have both dumped 5%. Litecoin is in pain below $40, and BNB has retraced about 7%, falling back below $15.
There is no green at all on crypto markets today as the bleed out continues and further losses are expected.