Quote from: arpon11 on August 07, 2019, 06:34:28 AM

Quote from: Stilicho on August 06, 2019, 01:50:39 PM

Hello,

what do you think after today flash crash of BTC from 12300 to 11600. Will it get back on bull trend and get over 12k again or will it slowly fall back to 10k?

I am really tired of these crashes. It is not first time I went from profit to huge minus just in few minutes. I cant understand how this can happen.

S.

It might fall back to test $10800 before resuming its uptrend again. The pump to $12,300 is not sustainable because it is not backed up by equivalent volume. The movers of the trend were purely day traders and you know it is always very hard for them not to take little profits and pushed price downward in other to be able to rebuy again. Bitcoin will grow back but that is when the whales and investors are assured that it will not get dumped and pumped every days.

Draw back or corrections are always at the back end of this market, once the rise can't be sustained by the support levels it will crash back and hold where the supports are waiting for it, just don't stressed yourself in any means learned to have a good attitude towards this market, as if you build good foundations inside you, the chance to make it work for your investment is higher than being impatient and lose your positions.