Having hit seven-day lows below $9,000 this morning, bitcoin (BTC) is looking decidedly weak.
The cryptocurrency fell to $8,980 on Bitfinex a few hours ago and was last seen changing hands at $9,080 - down 1.13 percent from the previous day's close (as per UTC) of $9,184.
The downwards move does not come as a surprise, however, with the bear flag breakdown witnessed yesterday opening the doors for a fall to $8,865.
Now, unless the bulls can make a defense of support at $9,055 (seen in chart below), the cryptocurrency risks once more falling below $8,000.
more about the article: https://www.coindesk.com/topping-out-bitcoin-bulls-need-to-defend-9k/
By: Omkar Godbole
The cryptocurrency fell to $8,980 on Bitfinex a few hours ago and was last seen changing hands at $9,080 - down 1.13 percent from the previous day's close (as per UTC) of $9,184.
The downwards move does not come as a surprise, however, with the bear flag breakdown witnessed yesterday opening the doors for a fall to $8,865.
Now, unless the bulls can make a defense of support at $9,055 (seen in chart below), the cryptocurrency risks once more falling below $8,000.
more about the article: https://www.coindesk.com/topping-out-bitcoin-bulls-need-to-defend-9k/
By: Omkar Godbole
it's fascinating to see these analysis changing every day, people claiming one thing then immediately another. I guess it's very hard to do day trading, I'm so glad I'm not involved in that hassle
It's really complicated that is why I just do one formula buy low and sell high, I just need to extend my patience, trading not only needs knowledge but you have to follow the pattern religiously, almost every hour but its profitable to many.