{"id":394234,"date":"2019-08-26T10:00:11","date_gmt":"2019-08-26T10:00:11","guid":{"rendered":"https:\/\/wncen.com\/?p=394234"},"modified":"2019-08-26T07:44:28","modified_gmt":"2019-08-26T07:44:28","slug":"altcoin-anguish-continues-as-bitcoin-bounces-back-reclaiming-70-dominance","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/altcoin-anguish-continues-as-bitcoin-bounces-back-reclaiming-70-dominance\/","title":{"rendered":"Altcoin Anguish Continues as Bitcoin Bounces Back Reclaiming 70% Dominance"},"content":{"rendered":"
Weekend trading has been largely lack luster as usual. Bitcoin spent most of the time hovering just above $10k while the altcoins stayed in bed. A Monday morning push in Asia has sent BTC up to a five day high but its brethren have yet to react.<\/p>\n
A few hours ago Bitcoin hit resistance at the 50 day moving average in a short surge up to $10,650. Resistance was too strong to overcome here though so it retreated back to just below $10,400 where it currently trades. The next leg up should take BTC to just below $10,800 where the next level of resistance lies.<\/p>\n
BTC is dominating market movements this Monday as $8 billion flows back into total market capitalization. With dominance back at 70 percent according to Tradingview.com<\/a>, the move spells more pain for altcoins which are still getting battered. The charts show market share for BTC tapping 71.29 percent a few hours ago during the spike<\/a>.<\/p>\n