Newsflash: Bitcoin Price Slips Below Crucial $6,800 Support Level

Elmer1

newbie

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Quote from: hugeblack on August 08, 2018, 02:24:44 AM

Quote from: Elmer1 on August 07, 2018, 06:00:46 PM

The worst does not appear to be over for the bitcoin price,

The movement on the price up and down is not bad, remember the price was about $ 6200 two weeks ago.

Quote from: Elmer1 on August 07, 2018, 06:00:46 PM

as CCN reported,

Institutions such as CNN are the worst place to track news about cryptocurrencies. Most of their analyzes rely on a financial system approach with disdain for cryptos, so if you want to invest in those currencies avoid such channels.

Quote from: Elmer1 on August 07, 2018, 06:00:46 PM

At 19:30 UTC, the bitcoin price took a major downward pivot, falling from $7,100 to $6,900 in less than 45 minutes. At that point, BTC/USD began to test the $6,800 level,

Perhaps the postponement of ETF triggered a situation of selling so the price dropped significantly in a short time.

Quote from: Elmer1 on August 07, 2018, 06:00:46 PM

now that support at $6,800 has broken, it may be the case that bitcoin has not, in fact, found its 2018 bottom.

I do not think that price will stay at $ 6,000 for a while.

So what do you mean about this news ? This is a trusted or not ?

hugeblack

legendary

Activity: 2702

Merit: 4002

Quote from: Elmer1 on August 07, 2018, 06:00:46 PM

The worst does not appear to be over for the bitcoin price,

The movement on the price up and down is not bad, remember the price was about $ 6200 two weeks ago.

Quote from: Elmer1 on August 07, 2018, 06:00:46 PM

as CCN reported,

Institutions such as CNN are the worst place to track news about cryptocurrencies. Most of their analyzes rely on a financial system approach with disdain for cryptos, so if you want to invest in those currencies avoid such channels.

Quote from: Elmer1 on August 07, 2018, 06:00:46 PM

At 19:30 UTC, the bitcoin price took a major downward pivot, falling from $7,100 to $6,900 in less than 45 minutes. At that point, BTC/USD began to test the $6,800 level,

Perhaps the postponement of ETF triggered a situation of selling so the price dropped significantly in a short time.

Quote from: Elmer1 on August 07, 2018, 06:00:46 PM

now that support at $6,800 has broken, it may be the case that bitcoin has not, in fact, found its 2018 bottom.

I do not think that price will stay at $ 6,000 for a while.

spadormie

sr. member

Activity: 840

Merit: 268

I thought the 8k was a great moment for it to go. But it isn't, it made the situation even worse. But I'm waiting for the etf. The etf might save us all on what we've put in, in cryptocurrency.

Elmer1

newbie

Activity: 109

Merit: 0

The worst does not appear to be over for the bitcoin price, as the flagship cryptocurrency on Tuesday slipped below $6,800, a mark that many analysts had pegged as a critical support level for BTC’s short-term prospects.

Bitcoin had spent the majority of the day trading above the $7,000 mark. However, as CCN reported, the market has been plagued by low volume in recent days, which is often an indication of a short-term bearish trend.

At 19:30 UTC, the bitcoin price took a major downward pivot, falling from $7,100 to $6,900 in less than 45 minutes. At that point, BTC/USD began to test the $6,800 level, which professional traders such as Bart Smith of Susquehanna International Group had identified as a critical level that bitcoin must hold if it hopes to reenter a bullish uptrend.

https://248qms3nhmvl15d4ne1i4pxl-wpengine.netdna-ssl.com/wp-content/uploads/2018/08/bitcoin-price-aug7.png

It’s not the first time in recent days that bitcoin has flirted with that mark, but this time the support gave out, and the bitcoin price plunged as low as $6,677 on Bitfinex before recovering to a present value of $6,731 as of 21:38 UTC. Nevertheless, now that support at $6,800 has broken, it may be the case that bitcoin has not, in fact, found its 2018 bottom.

Click https://www.ccn.com/bitcoin-price/ for a real-time bitcoin price chart

Topic: Newsflash: Bitcoin Price Slips Below Crucial $6,800 Support Level (Read 139 times)