The Bitcoin initiated the trading session at $7,616 and entered a sharp drop to find lows of $6,775 - a loss of slightly over 4%. As of this writing, Bitcoin price has been driven back over $7,100 with bulls exhibiting interest in price levels beneath the $7,000 handle.
The loss in the most popular coin valuation has pulled the entire cryptocurrency market down with a well-known loser being Ether coin, which has lost vital support at $152 and posted lows of over -10% by closing at slightly under $150 handle.
Granddaddy coin dominance is upward for the week posting a 69% gain, meaning that coin has bettered the rest of the cryptocurrency coin market throughout the sustained decline this past week.
Bitcoin is down and trading under our Key Sup 'BARC' $7,430 and completed Inner Coin Dip $7,474. The price is declining towards Trade Selector Signal next Inner Coin Dip $6,000.
While very significant Key Sup $4,946 of the spring of 2019 bull run is looming beneath, currently, the Bitcoin is finding no support with leg seven paths, and sell off sentiment is very biased.
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The broad S&P 500 index cracked a six-week winning trading streak, even though it faded just 0.3% this past week. The DJI Average dropped 0.5%, the Nasdaq Composite index surrenders 0.3%.
And the small-cap Russell 2000 index declined 0.5% performing in-line with the significant bench-marking index this past week, revealing a broad-based failure to provide conviction.
The trading week commenced with the large-cap indices ending on Monday with incremental record highs; however, most stocks eventually struggled for the direction for the remainder of the week.
The S&P 500 materials sector posted a negative 1.7% drop, while the real estate sector printed minus 1.2%. The health care sector ended with a plus 0.8% gain, the financials sector added an extra 0.5%, and the utilities sector showed an additional 0.2% finish.
Elsewhere, the United States bond market encountered some curve-flattening action this past week. The Two-year interest yield rose two basis points to conclude at 1.63%, while the Ten-year note yield faded six basis points to finish at 1.77%.
The United States Dollar Index (DXY) increased by 0.3% to close the week with 98.26 gain versus the other major currencies. West Texas Intermediate crude oil improved by 0.2%, or $0.13, to post a $57.88 finish for the week.
This article was printed from TradingSig.com