BITCOIN CUTS 200-DAY MOVING AVERAGE LINE SECOND TIME !! Will it bounce back or continue to fall down as confirming current down trend ?
Now we are facing to a critical moment ! 200 days moving average has been broken second time since forever . I think it is very strong signal that confirming current down trend as this indicator is considered very strong support for upward trend. If it cant bounce back as it happened last month , price will go way down to under 4000$ as next support level is around there. Even it can bounce back , there is very strong down trend line which is not easy to be broken . In other words , It seems that BTC might be on its way to reach a few thousands dollar in next few weeks. So now it is the moment to pick your position whether to long or short on BTC, surely with careful analysis.
For future viewers: price of bitcoin at the moment of posting is 9284.00USD
Thanks for the clarification ! Right now it is very exciting moment for Crypto family
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