Why the Latest Bitcoin Dump Could Actually Launch the Crypto Market into Bullish Territory

6

Why the Latest Bitcoin Dump Could Actually Launch the Crypto Market into Bullish Territory


The bitcoin price on Wednesday depreciated as much as 2.56 percent on the back of a stronger US dollar. Paradoxically, that might not be such a bad thing for the crypto market. The bitcoin-to-dollar exchange rate (BTC/USD) bottomed at $3,340 on an intraday basis, while retesting the low of January 29 trading session. There was a little attempt from bulls to reverse the price action with the bearish bias intact. Nevertheless, the pair consolidated above $3,340, which served as an opportunity to reclaim $3,400 in the near-term. Bitcoin’s Six Triangles In our previous analysis published Monday, we had predicted a

The post Why the Latest Bitcoin Dump Could Actually Launch the Crypto Market into Bullish Territory appeared first on CCN

Posted by Yashu Gola on February 6, 2019 @ https://www.ccn.com/why-the-latest-bitcoin-dump-could-actually-launch-the-crypto-market-into-bullish-territory

Comments are closed.