Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Cryptocurrency Price Speculations => Topic started by: Adrian on November 15, 2018, 02:27:02 PM
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Bitcoin crumbled today as the break below the trendline attracted sharp selling, plunging prices to new year-to-date lows. As prices broke below $5,900, it triggered our stop loss suggested at $5,900. Currently, the bulls are trying to push prices back above $5,900 but every small pullback is being met with a fresh wave of selling.
If the bears sustain prices below $5,900, the next drop should take the BTC/USD pair to $5,450 and below that to $5,000. Contrarily, if the bulls stage a successful pullback, the digital currency might attempt to climb above the trendline once again.
At times, the first move from a consolidation is a fake out. Hence, the next couple of days are very critical for the digital currency as it will dictate the next direction. If the bears exploit the breakdown and sink prices lower, then it is best to sit out until the decline ends. However, if the bears fail to capitalize on the fall, it shows strong demand at lower levels. Therefore, we suggest traders wait for the next couple of days, as it will give us a better clue about the next direction.
Source: https://cointelegraph.com/news/bitcoin-ethereum-ripple-bitcoin-cash-eos-stellar-litecoin-cardano-monero-tron-price-analysis-nov-14