Bitcoin Price Analysis 06 Sep 2018: $7400 was still too strong to break
After staying above the 7300/7340 for a very long time, Bitcoin price eventually broke and an immediate dump happened.
The correction however looks very sharp. The main reason is that the most of selling is forced what means that stop loss of short positions got triggered. There is a small probablility of the next 300 point drop during the coming hours, but there can still be some drops. The most probable scenario is a sideway move around current level for some time.
For bulls to start action we need to see the price get stable around the current level. However we should not expect a big rally any time soon since the bears have the upper hand now.
Congratulations @cryptolook! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
Congratulations @cryptolook! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Do not miss the last post from @steemitboard: