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Xantys

BTC fails to rebound?

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Hi guys, last week we all hoped for a strong rebound when price started moving up from the recent low levels to 4.4k in a 3-day rally. Unfortunately this upside breakout failed and we see another 7% drop today. The price easily passed 4k level and technically speaking is heading to the latest low of 3.6k. Looking to the chart this just confirms further downtrend move. And I think we gonna see some more pain and frustration before markets reverse upside. What do you guys think?

 

 

BTC graph 03.12.18.jpg

Edited by Xantys

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1 hour ago, vinka1976 said:

sorry to say this but btc is not going to rebound positively, its gonna fall dramatically

I have seen you say this every time bitcoin has dropped in price. I do not understand what pleasure you get from being pessimistic but clearing out the facts : bitcoin has "died" several time already since its birth. Buying and selling are nothing but the economic supply and demand on an asset. They do not determine the future value in the asset. The potential gains that a trader could get from selling bitcoin at higher prices is huge and the potential asset storage value that they would generate by buying at lower prices is also huge.

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On 05/02/2019 at 18:07, mikeoxlong said:

i shorted at 4000, hope you guys did too

Well, looking at the current trends, bitcoin is hovering just below the $4000 mark. I have a feeling if it breaks this resistance level, it could shoot up, maybe to $5000 or something like that.

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