Quote from: omonuyak on March 04, 2019, 07:22:36 AM

Quote from: indoagung88 on March 02, 2019, 07:42:47 PM

I see something heavy and maybe difficult, when the price of bitcoin will touch $ 4000, then drop dramatically down. In your opinion, what is happening with the current condition of bitcoin. Is it because of the market that hasn't really recovered? or is there bad news?

Bitcoin is trying to break a channel that has been established since December last year when big market players dumped it below $4000. This has created a resistance around $4255 and whenever it moves close there is that great resistance from the bear. It will break the channel but it has to be during important news.

That's the general consensus around Bitcoin, and if you check all the trading channels they were even encouraging people to take profit around 4100, so with all that pressure to sell even from the so-called trader whales, it's going to be really difficult for the buyers to establish some momentum.

I don't think news really affects it anymore, but for sure, if good news maybe like Bakkt arrives as buyers are ready, we'll see the movement we've been waiting for.