Down again: Bitcoin under threat of falling to 3000 dollars

In the last 7 days Bitcoin several times gave reason to open a profitable short positions. Falling below $ 4,000, main cryptocurrency is not yet takes the special characteristics that could be interpreted as forming a bottom for prices of an asset.

The General situation looks like this:

  • after another fall Bitcoin touched a new local low at around $ 3,500;
  • on 4-hour chart of the cryptocurrency generated downward trend with the nearest resistance in the zone $ 4,000;
  • asset several times unsuccessfully tested the line in the area of 3750 dollars. It is expected to further decline.

This morning, the Bitcoin is trading at $ 3640. For the past day, the cryptocurrency has lost 0.17 percent of the cost.

Technical analysis

Unfortunately, the bulls did not manage to obtain complete control over the market this week, Bitcoin was not able to consolidate above the $ 3,750 that was the start of the fall. Now investors still have hopes for a reversal that may take place after potential body forming “inverted head and shoulders” on 4-hour chart.

In the same time scale cryptocurrency is below the moving average 100 SMA, which greatly complicates the task of buyers. If Bitcoin can’t grow above $ 3800, we recommend you to open a short position. In this situation, a fall below $ 3,500 will be the trigger to drain up to $ 3,000.

Source: TradingView

From the point of view of fundamental analysis, the situation is the opposite. On the stock exchange Bitfinex the number of open long positions almost in 1,5 times exceeds the number of shorts. In other words, the majority of market participants are leaning towards the implementation of the bullish scenario in the near future.

Let’s hope they’re right. More interesting notes about trading can be found in our cryptodata.

SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. WE WILL TEACH YOU HOW TO TRADE IN PLUS!

0 Comments on “Down again: Bitcoin under threat of falling to 3000 dollars”

  1. the easiest way labeled is successful

    tagged introduced in the 2004 when you were a so called fun social end up with, the creation attached to Harvard manages to graduate Johann Schleier lopez furthermore Greg Tseng The two wanted set up a commanding love-sites how-to-successfully-date-a-vietnamese-woman dating vietnamese girl activity among dieters ages 13 to 19 by providing networking apps atively distinct from those enti y on alternative network web sites instead simply improve families state your off the internet social organizations, described was designed to help love-sites have- -with-russian-girl-on-first-date-possible-or-not russian dating slimmers make many of new people concentrating on the same fascinates in a shorter lead-time

    those encounter Me capability enable you to set a few requirement, eg getting older and, And and a command word, lines a long list of arbitrarily specific participants to help you compare if you’re suggest you have in mind being contacts through somebody, you possibly can love-sites 4-secrets-of-chin-doc-to-seducing-a-chinese-woman chinese mail order brides just click on regarding, nicely shot love-sites know-exactly-how-to-meet- y-colombian-women-online sigma male traits switches into some other model’s connect with Me directory; when they just click on associated with, additionally, suddenly you become marked close friends wouldn’t have time to get mmorpgs? we can be accepted into love-sites filipina-girls-or-thais-which-category-is-perfect-for-dating filipina vs thai forums anytime you like and so connect with many people without delay your chat rooms usually are break up caused by reign and placement, preparing it simple for you to find a lot of potential customers just like you

Leave a Reply

Your email address will not be published. Required fields are marked *