bitcoin satire not my life story. There is still a lot of bullishness in the market with some calls for the price to reach as high as 6,000 this year. Hodling is a viable strategy for those who truly believe. This analysis is for informational purposes and should not be considered investment advice. View, bitcoin could re-test the psychological support level of 10,000. Meanwhile, the number of long positions those betting on bitcoin to rise has risen.2 percent, while short positions those thinking the cryptocurrency will fall have declined 10 percent since the start of the week, showing that traders are getting more bullish on the cryptocurrency. Total active margin trading long positions have risen from 18,576.54 bitcoin on Thursday, to 21,168.90 bitcoin on Monday, according to data from CryptoCompare. Summary: Short-term indicators are showing a possible move to the lower Fibonacci Retracement values (2,500, 2,400, 2,280). The price is likely to hit 1,780, but could even fall as far as 1,470, Duke told cnbc. These market moves show that, unless significant volume hits the BTC-USD markets, there is a likely test of the lower Fibonacci Retracement Lines in its future.
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Bitcoin to hit 6,000? Note: This analysis does not attempt to speculate on the market implications of news events. The ascending trendline (drawn from Nov. After all, there is still a glimmer of a hope, you think well, perhaps it isn't all bad, perhaps I can buy back in a bit lower and make the losses back in the long term. 24 low) could offer support (today) around 9,900 levels. Show chapters, still, Lee thinks the correction is temporary and the price rise will continue because "the macro situation hasn't changed". Well at least i can't lose anymore you say, at least i walked away with something. Yesterdays candle has a big upper shadow (gap between intraday high and daily close which indicates bullish exhaustion. The price chart analysis also indicates that the odds of a technical correction have increased over the last 24 hours. BTC has appreciated close to 150 percent over the last five weeks on speculation that a move to the mainstream via an entrance to the futures contracts market would increase demand for the cryptocurrency. After reaching a fresh all-time high yesterday, bitcoin could be losing its upside momentum. Figure 5: BTC-USD, gdax, 4-hr Candles, Fibonacci bitcoin blockchain aktie Retracement of Bear Run.
One analyst said that the cryptocurrency is close to a key level of 2,800 which could signal a correction. Bitcoin prices are suffering this morning, following a record spike to over 17,000 overnight.
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