Cryptocurrency Trading News: Bitcoin Critical; Litecoin Improves

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ForexMinute.com – Last 24 hours in the cryptocurrency market were somewhat satisfactory, as most of the top coins showed little improvement compared to Friday’s disastrous trading session. Coming directly to the point, Bitcoin finally retaliated a little bit from persisting downward pressure, while other coins, including Litecoin, BitSharesX, NXT, Dogecoin and Darkcoin, too remained steady.

But a steadier 24-hour timeline is still not an ultimate relief for most of the coins, mainly Bitcoin whose value breached the critical trend line during the weekend. A pessimistic social mood has played a major role in clamping Bitcoin prices, which has ultimately influenced the overall attitude of the market. Even a few dollar drop injects multiple perceptions into the market, such as the blame-game on OTC procedures, quick conversions of BTC into fiat currencies by third party payment processors; or the Alibaba IPO.

Litecoin meanwhile is paving its own way in this time of crisis. Indeed, the little visible consolidation in Bitcoin charts is amplified in Litecoin, but this further suggests that investors are moving towards the silver digital currency when the gold one is getting knocked down on a regular basis.

Darkcoin is another coin which is preferring to live inside its own shell. After facing a steady decline alongside Bitcoin, the DRK charts are hinting a reversal during the 9/22 trading sessions, probably because of the scheduled RC5 release. The coin’s price movements have been similar in the past around such updates. This also indicates that it may fall with an equal momentum once the hype dries up. Buying is recommended until another intraday high is reached.

Here is the full report:

BTC/USD
Expected Mood: Bearish
Current Mood: Neutral
Opening Price during 9/21: 409
Closing Price during 9/21: 399
Expected Peak during 9/22: 460
Expected Low during 9/22: 350

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

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