Crypto market update: Bitcoin (BTC) and its peers spike 5% lower within minutes
05/16/2019, 04:59:06
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Bitcoin (BTC) price and its peers late in the session took a hit by a strong unexpected wave of sellers. BTC/USD plummeted a chunky 5%, giving back m

  • Bitcoin plummeted late in the session Wednesday to give back much of its gains.
  • BTC/USD and peers dropped some 5% within minutes, after being hit with hard rejection again at a key area of resistance.
  • Bitcoin plummeted late in the session Wednesday to give back much of its gains.
  • Bitcoin plummeted late in the session Wednesday to give back much of its gains.
  • BTC/USD and peers dropped some 5% within minutes, after being hit with hard rejection again at a key area of resistance.
  • BTC/USD and peers dropped some 5% within minutes, after being hit with hard rejection again at a key area of resistance.

     

    Bitcoin (BTC) price and its peers late in the session took a hit by a strong unexpected wave of sellers. BTC/USD plummeted a chunky 5%, giving back most of the session’s advances, on Wednesday. The price was trading around session highs before dropping.

    BitcoinBTC/USD

    The fall led my Bitcoin was seen across the board with many of its peers. The tandem move came after seeing several cryptocurrencies testing key areas of resistance, which are big barriers ahead of further potential explosive moves north.

    cryptocurrencies

    At the time of writing, BTC/USD had recovered some of the initial damage but still appears to be vulnerable. Support is seen around $5100, the last major barrier ahead of a potential retest of the big psychological $5000 mark, which has proven to be the bottom of late.

    BTC/USD 15-minute chart

    BTC/USD 15-minute chartBTC/USD 15-minute chart