BTC’s Price May Test the $16.5K Level Again; How Low Will It Go? By CoinEdition

• Bitcoin’s price is slightly up at press time according to CoinMarketCap.
• The market leader’s price is trading below the 9-day and 20-day EMA lines.
• Daan Crypto Trades shared his bearish thesis for BTC’s price.

The price of (BTC) is slightly up at press time according to the crypto market tracking website, CoinMarketCap. Currently, BTC’s price is trading at $16,753.21, which is a 0.33% increase over the last 24 hours. The market leader’s price is still down 2.56% over the last 7 days.

BTC’s market dominance has dropped 0.32% over the last 24 hours, and currently stands at 39.73%. The 24-hour trading volume for Bitcoin is another off-chain metric that has declined over the past day. At press time, the 24-hour volume for BTC is approximately $11,784,572,436, which is a 54.12% decrease compared to the previous 24-hour cycle.

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