Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: jings009 on November 16, 2018, 04:09:04 PM
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If past events are a guide, bitcoin (BTC) could in for a recovery rally in the short-term.
Following Wednesday's 10 percent slump, the leading cryptocurrency printed an intraday low of $5,188 on Thursday, before closing largely unchanged on the day (as per UTC) at $5,580.
The price swing formed what's termed a “long-tailed doji” candle on the daily chart, which is usually taken to represent indecision in the marketplace. The fact that the candle appeared at the bottom of the recent sell-off indicates the indecision is predominantly among the sellers and could be considered a sign of bearish exhaustion.
More here: https://www.coindesk.com/bitcoin-price-pattern-suggests-a-bounce-may-be-coming