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Finally, FOMO comes as analysts Expands Bearish Target




Bitcoin [BTC] affected nearly $ 9100 on May 31, 2019 before, as it went through a rapid fall to a low level of nearly $ 8,000. Therefore, while Bitcoin [BTC] broke out of the rising triangle, It fell back to test the breakout level.

  BTCUSD
BTC / USD 4-Hour Chart on Bitstamp (TradingView)

The price of Bitcoin [BTC] at 3: 15h UTC on May 31, 2019 is $ 8264. It is 4.37% lower on a daily scale. The total market value of Bitcoin fell below $ 150 billion.

It was clearly FOMO on the market over $ 8700, with the price of new heights almost every week in the last month. Peter L. Brandt expressed the feelings in a tweet .

"Was today's correction enough to shake the monkeys (FOMO buyers) from the trees?"

Also read: Bitcoin Fighting $ 9000 – Analyst Thomas Lee Predict's Real FOMO Level in the Bitcoin Market

He also suggested that there could be several disadvantages to it, with goals given at $ 7881 and $ 7467. Properly predicted the turnaround purchase on Bitcoin, which could be extremely bearish.

BTC / USD Price Analysis (Peter Brandt)

A refund in Bitcoin [BTC] prices was due for a long time. Nevertheless, if the increased demand remains intact, the orders will be filled by people who want to buy the dip. B. Biddles that are bullish in Bitcoin [BTC] tweeted in a small hint,

"So the gap filling amount is bullish now?"

While the parabolic upturn looks like it has come to an end, a correction in the price is just natural for an asset. But there are traders like Tone Vays who waited for 30% pullback from $ 8700; A fall to around $ 6090. Moreover, according to Vinny Lingham, a drop below $ 6200 would revive the bearish movement experienced at the beginning of the year.

On a further bearish note, a rising wedge pattern has been recognized in the daily chart on Bitcoin [BTC] breaking down soon. Furthermore, MACD bullish is on a weekly chart, but bearish on a daily and 4-hour chart.

  BTCUSD
BTC / USD 1-day chart on bitstamp (TradingView)

] Do you think Bitcoin [BTC] will get over $ 8300 or we'll see a disadvantage? Please share your views with us.

  Bitcoin [BTC] Falls Under $ 8300: FOMO finally comes as analysts Expands Bearish Target </p>
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  Bitcoin [BTC] Falls Under $ 8300: FOMO finally comes as analysts Expands Bearish Target

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Bitcoin [BTC] 19659022] Description

Bitcoin [BTC] touched almost $ 9100 on May 31, 2019 before, as it went through a rapid fall low close to $ 8,000. Therefore, while Bitcoin [BTC] broke out of the rising triangle , it has fallen back to test the eruption level.

Author

Nivesh Rustgi

Publisher

CoinGape

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The presented content may contain the author's personal opinion and is subject to market conditions. Do your market research before investing in crypto carts. The author or publication has no responsibility for your personal financial loss.






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