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What Changed in Crypto Markets While You Were Sleeping — April 23

2 mins
Updated by Leila Stein
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In Brief

  • Technical indicators in the daily time-frame for BTC are bearish.
  • Most coins in the red as market declines.
  • Reef Finance to launch the industry’s first blockchain exclusively for DeFi.
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BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.

Bitcoin update

BTC is continuing its decline from its all-time high on April 14. Since then, the price has accelerated its decrease to the support line of an ascending parallel channel.

Yesterday, BTC broke down from the channel and fell below the 0.618 retracement support at $51,368, an area that could now act as resistance.

Technical indicators in the daily time-frame are bearish. The Stochastic Oscillator has made a bearish cross while the RSI has dropped below 50. Furthermore, the MACD is negative. 

BTC Channel
Chart By TradingView

The next support is found at $47,680, created by the 0.786 Fib retracement support. It is expected to reach a bottom between $47,600 and $46,600.

Altcoin movers

The top-10 crypto market cap rankings are much the same. The top five coins have retained their positions from yesterday. However, there is a serious decline across the board with most coins falling into the red.

Bitcoin Gold (BTG) is the biggest altcoin mover trading at $132.37, a gain of 55.65% at the time of publishing.

Digitbyte (DGB) was the biggest loser. The coin dropped 33.21%to $0.1091 in the last 24-hours. However, it’s had a good week overall, gaining 11.45%.

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Leila Stein
After working in news and lifestyle journalism, Leila decided to bring her interest in cryptocurrencies and blockchain to her day job. She now runs the Features and Opinions desk at BeinCrypto which fits perfectly with her enthusiasm for crypto's social and political impact.