Yesterday, Coinrail, a south Korean trading platform, suffered a cyber intrusion that caused bitcoin prices to fall. And the decline was the highest in three months. (about 50 percent).
For me, Cryptocurrency is an amazing thing, which has changed so quickly that we can only make a rough guess by K chart analysis.
https://twitter.com/Coinrail_Korea/status/1005650529773486080
Bitcoin has a strong short position and it is aiming to push prices down to a low of $6,000 in February 2018. As you can see from the picture, the bitcoin bearish signal is still strong.
Within a week or two, bitcoin prices could fall below $6,000, and over the next 48 hours the BTC could bounce back slightly to $7,000 to $7240, before falling further.
Only if the daily closing price is above the 10MA (at $7500) can the bearish be stopped.
Disclaimer: This article is not meant to constitute trading/investment advice. Please use extreme caution when trading any cryptocurrency.
If you have different opinions, you can reply after reading.
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https://t.me/CRYPTO_EVEREST
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According to me the valuation in deflation you are seeing is not as it is looking. Bitcoin being volatile crypto currency, its valuation keeps on flactuating and I guess only the valuation of bitcoin undergoes such frequent flactuation but the picture is not that dirty as it seems to be because if we look at the average valuation like for an year then we can easily see that it is quite stable and there is very less flactuation in the valuation for an average and by the way the flactuation in valuation is very common in all investment.For me, Cryptocurrency is an amazing thing, which has changed so quickly that we can only make a rough guess by K chart analysis.
https://twitter.com/Coinrail_Korea/status/1005650529773486080
Bitcoin has a strong short position and it is aiming to push prices down to a low of $6,000 in February 2018. As you can see from the picture, the bitcoin bearish signal is still strong.
Within a week or two, bitcoin prices could fall below $6,000, and over the next 48 hours the BTC could bounce back slightly to $7,000 to $7240, before falling further.
Only if the daily closing price is above the 10MA (at $7500) can the bearish be stopped.
Disclaimer: This article is not meant to constitute trading/investment advice. Please use extreme caution when trading any cryptocurrency.
If you have different opinions, you can reply after reading.
Welcome to join our Telegram Group and discuss together.
Telegram Group
https://t.me/CRYPTO_EVEREST
https://twitter.com/CRYPTO_EVEREST