Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Goodcat49 on August 04, 2018, 06:04:43 PM
-
One of Wall Street's jumbo cryptocurrency maniacs noted that the price of Bitcoin could be prepared for a great breakout if it goes forward to hold close to its current level at $7,500.
Bart Smith, head of digital asset at Susquehanna International Group, Pennsylvania-based trading exchange, noted that he is observing to see if Bitcoin continues to strike "higher highs" as it recovers from the year-to-date low it made in early June 2018.
Key Level
The important support level, he noted, is $6,800:
"The technicians I have talked to are concerned about $6,800. That's the level where I think, if it breaks through, it would be negative."
Some comments from Tom Lee, founder of Wall Street strategist Fundstrat, he noted that it's a significantly optimistic signal that the price of Bitcoin didn't register a hefty sell-off in the immediate aftermath of the wide-spreading news that the U.S regulators had rejected the Winklevoss twins' most recent Bitcoin ETF application.
“It’s a sign of a positive change in crypto that bitcoin has essentially shrugged off the Winklevoss ETF rejection. If this took place in April-June (more bearish period), the crypto market would have seen a sizable sell-off. In short, affirming why technicals improving,” Lee said.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/wall-street-trader-bitcoin-price-yarking-for-breakout-key-6800-level/
(https://coinidol.com/upload/resize_cache/iblock/173/900_900_1/173610f5707dea5d69e823b339e3ed97.png)