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