Stay: the nearest stop for Bitcoin is $ 3,000
Source:
Over the past few days, the main cryptocurrency have time to update the annual minimum. Investors are confused and full of disappointment because of the behavior of Bitcoin. Isn't this a sure sign that the bottom is near? In the short term, the closest significant level for cryptocurrency may be the only line of $ 3,000. But the fall still lower may greatly harm the reputation of the industry.
theLatest news
Recall, the price drop has greatly affected the miners. The profitability of their cryptoform for some time came down even below zero, forcing some of the major mining centers of obsolete equipment. Fortunately, after the recalculation of the complexity of the network of the bitcoin and everything in its place.
But a portion of the negative market received the day before. The Commission on securities and stock exchanges of the USA once again consideration of the approval of the ETF at the end of November to the end of winter. Now, cryptocommunist have to wait until February 27 to hear the final verdict of the SEC.
theTechnical analysis
Our previous predictions about Bitcoin is still in force. Cryptocurrency is still falling in the near future, the downward movement should stop on the line $ 3,000.
image Source — NewsBTC
Not to fall into the trap of bears, we recommend you not to open long positions. Decline to support does not mean that at this point there will be a great rebound above $ 5,000. However, things take a more positive turn, if the bulls manage to consolidate above $ 4,500.
image Source — NewsBTC
Scale 1-daily chart, you would select the line $ 3700, but it has already fulfilled its role as a trigger to open short positions. Now traders can only observe with Bitcoin. It is not excluded that may soon be followed by sharp price spurts, aimed at the disruption stop-loss orders. In this situation, trade is very dangerous.
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