Fewcoins

Bitcoin on the verge of falling to $4500

Short
BITSTAMP:BTCUSD   Bitcoin

At $8400, we see a classic bull trap, when, after the breakdown of the resistance line, the price trades on falling volumes and then returns back to weak volumes. After that we see a sharp plum, the volumes rise because all the fines are losses. Now the price can still bounce back to $8000-8100 after which the fall will continue because the main resistance zone of $8000-8500 we have already overcome and new buyers should be searched in the region of $7000-7200 if it can not be kept flying to the region of $4500.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.