Bitcoin Bears gaining control?
Bitcoin Bears gaining control?
Rejection at inverse head-and-shoulders neckline is discouraging. Further, yesterday's candle was a bearish hammer and the follow-through has been negative today.
A close below descending 50-day MA of $10,193 would confirm bear reversal
It is signal down trend for bitcoin's price and it will be followed by all of the alternative coins price, today is time for stop trading digital coins and wait the condition of markets to be up trend.
this will always happen the price of £ $ yen and so on will fall and then people will buy and the price will jump.
as suggested best thing is to hold onto what you have and wait as long as possible if you have any spare cash and buy not sell this way when the price looks good the the bears will send it to an all time high once again.
JUST DON'T SPEND WHAT YOU CAN AFORD TO LOSE.
Too many people that know little to nothing about crypto brought into it sending the price sky rocketing then sold it for a fast buck crashing the price where had they simpley invested less and saved what they had brough they would have kept the price a more stable level and been able to take a small profit for years to come.
Bitcoin isn't dying but there are far too many new coins coming out trying to jump on tha band wagon like the dot com bubble it poped and loads lost out but the true dot coms got stronger and the same will happen when these coins start to vanish.
the new coins are good if you can buy now and sell within a week or 2 at a profit but long term they are just bit's of data that will be worth less than the electrons they are made of.
just remember becareful only trade in established coins and not new coins that have a Zero track record just because they are cheap.
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