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Bitcoin is now struggling to hit the $33,000 level after its decline took it to a 2-week low.

Most alternative currencies also failed to escape this downward movement, and Ethereum, which had performed well this week, dropped to $2,091 today (09), according to CoinGoLive.

Bitcoin, DOGE and Uniswap are up, while the market remains red according to the CoinGoLive chart today
Source: CoinGoLive.com.br

Bitcoin between US$ 40 and 30,000

As reported yesterday, the bears continue to advance into crypto territory. Bitcoin yesterday  lost over $2,000 in hours. This resulted in a drop to just over $32,000, which became its lowest price since June 27th.

Despite the growing concern about Bitcoin price declines, there is an indicator that improves the investment outlook in the medium term.

O Bollinger indicator, which measures cryptocurrency volatility, indicates that Bitcoin's current price range is about to set another plateau in the coming weeks. This can be decisive for the cryptocurrency in the medium term.

Bollinger bands to establish bitcoin technical analysis
fontand: https://twitter.com/L1am_Crypto/status/1412760097747525633/photo/1 – Banoof Bollinger BTC/USD – Coinbase

This indicator is calculated by dividing the difference between the lower and upper price range, considering the last 20 days. This week, the indicator dropped to 0.15, the lowest level seen in the last two and a half months.

Experts are therefore betting that data on Bitcoin futures and entry by large investors into cryptocurrency funds show that the next move could be bullish. In other words, the market leader, according to the indicator, would be close to recovering, reaching US$ 44,000.

However, if this indicator moves inversely, the cryptocurrency could lose $30,000 support.

In 7 days, the cryptocurrency retreated 2.39%. In one day it rose 1.70%. BTC's dominance has risen to 44% while its market capitalization remains at $616 billion.

Dogecoin and Uniswap go up

Most altcoins had substantial losses within 24 hours, only Dogecoin and Uniswap were the largest capitalized altcoins with positive gains.

DOGE accumulates 3.40% high in 24 hours, but during the week he was not so lucky. In 7 days, the asset lost 11.14%, closing today the price at US$ 0.21.

Uniswap (UNI) has appreciated 0.75% in the last 24 hours. The cryptocurrency, which was recently made available on Foxbit, trades at $20.35 this morning, having this week up 13.27%.

Uniswap's decentralized financial protocol runs on the Ethereum blockchain and allows trading between two assets. The network token is the UNI.

Ethereum (ETH) closed the day down 2.23% while the BNB also fell, trading below $310.

The market capitalization of cryptocurrencies is US$ 1.4 trillion this Friday (09).

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