Post
Topic
Board Trading Discussion
Re: Why Bitcoin is Declining? And What’s Next?
by
PuertoLibre
on 21/08/2019, 23:16:01 UTC
The OP is almost one month back.
Till that a lot of things has happened.
Bitcoin keeps on fluctuating.
So the reason for BTC declining is low market cap or trading volume.
So in order to withstand it, or in simple words when BTC will rise? The answer is when the trading volume will be more.
Hope this helps.
The old question will be always actual, BTC price is visiting the resistance and support level in a week. For example, in the spot forex market, there is no reason to trade the resistance level of the 1-month-old price. The price barely touches the old resistance(support) levels unless the big news forces the market participants to trade those levels. I can keep counting the reasoning but each market has different stop hunting techniques, OP should protect his trades in such cases.