Hi guys!
A non-optimistic trend is still being maintained. I believe that there is a big fall ahead of 6,000 - 6,200 US dollars. So..
Bitcoin risks closing below the 50-week moving average (MA) – an important long-term support not breached for over two-and-a-half years.
With the bears already on the offensive following the recent sell-off, prices are likely to suffer if bitcoin closes on Sunday below the key support, currently seen at $7,611. More worryingly for the bulls, since the cryptocurrency has not traded below the 50-week MA since October 2015, acceptance below that level would only add credence to the argument that the long-term bull run has ended.
Yes, the last few months bitcoin goes down, winning back the positions for a short time. These are obvious signs of fever, those who bought at a higher price want to sell at least for some money. Now there is no such movement of money as in December 2017.
Thanks!
